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One in seven 'will retire with debts'

Nearly one in seven Scots planning to retire this year will have outstanding debts, of £31,200 on average, an insurer has found.

However, the typical amount of money owed has dropped compared with a year ago as more people retire mortgage-free, Prudential said.

The average amount owed by someone planning to retire last year was up almost one-fifth, at £38,200, while the share of people retiring in debt has held steady on 2012, at 18%.

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Finance

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