A new survey has shown that elderly people in the UK are harbouring thousands of pounds of credit card debt.
Conducted by Key Retirement Solutions, the poll revealed that the average person aged between 65 and 69 owes £8,881 on credit cards, while the figure for those over 70 rises to £9,048.
According to the Aberdeen Press and Journal, pensioners may need to improve the way they manage credit card debt so that their retirement income is not affected by having to make repayments past the age of 65.
Dean Mirfin, business development director at Key Retirement Solutions, told the newspaper: "Debt is a way of life for a substantial number of people and the over-65s are not immune. The over-65s are ... at risk as, once they retire, they may no longer have the income to service the debt."
Recent figures published by Gocompare.com showed that a quarter of Brits have struggled through the cold winter by trying to keep their fuel bills at a minimum, which could have affected the elderly more than others.
Posted by Martin Peacock
