A fifth of pensioners 'still in debt'

A fifth of people planning to retire this year are still paying off debts, owing an average of more than £30,000 each, research has indicated.

Around 21% of people who expect to start drawing their pension during 2011 admitted they would not be debt-free when they stopped work, with a further 14% saying they did not know if they would still owe money, according to Prudential.