In the latest of its quarterly Real Retirement Reports, insurer Aviva claims that the last year has seen the older population reducing the amount they are spending paying off debts, in favour of keeping up with rising costs elsewhere.- Average monthly incomes for the over-55s have risen over the past three years, up 13 per cent from £1,250 to £1,412, but the amount of unsecured debt held has increased by 36 per cent.
- At the same time fuel and utility costs have sky-rocketed as inflation has forced up the cost of household essentials.