Retirees use Pensions used to pay off mortgage debt

Research from Scottish Widows has reveal that around 40% of  pensioners are using their pension money  to clear their mortgages and to settle other loans - rather than investing the cash to support them in their retirement.

The report reveals that someone saving enough for their retirement is likely to be a man either working in the public sector or a high earner in private industry. A non-saver is more likely to be a woman, or self-employed, or a parent of young children.