Debt problems in retirement putting marriages under pressure, finds new research

Older people who find themselves with serious debt worries are twice as likely to find themselves facing divorce, according to new research from the International Longevity Centre and Age-UK.

Retired people find themselves caught between falling pension and savings income and rising prices.  The report found a “statistically significant decrease in quality of life” among older people struggling with debt.

The increased risk of marriage breakdown was not found amongst older people who, while still using unsecured credit such as credit cards or personal loans, were managing their finances successfully.

The report authors argued that this, along with the evidence of growing numbers of retired people who were struggling with debt, showed that more debt advice was needed for this sector of society.

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