People approaching retirement should make sure they are managing their debts effectively before giving up work, it has been suggested.
There are a number of reasons as to why people are unable to take advantage of debt management expertise at the moment, including falling house prices and savings rates, said Becky Wilks, spokesperson for the Money Advice Trust.
"It is important to try and pay off your debts because whatever you have paid into your pension now is not going to increase whereas if you are still working you may get a better job or receive a pay rise," she commented.
Those approaching retirement will find they have more to do with their money, which Ms Wilks believes makes them a unique age group.
Research from the fifth annual Scottish Widows UK Pensions Report reveals that the debt burden for retirees is getting worse, although overall UK debt is falling.
Average outstanding non-mortgage debt among retired people is £7,344, up from £6,732 in 2008 and £5,930 in 2007.