Retired Albertans more likely to pay down debt
Posted Jul 23, 2012 7:17 am.
This article is more than 5 years old.
Retired Canadians may carry less debt than their working counterparts, but they’re less likely to make extra payments leading to higher interest rates.
Retired Albertans who carry debt fare only slightly better than the national average, at 58 per cent, according to a new CIBC poll.
Fifty-nine per cent of national retirees have debt, versus 76 per cent among non-retired Canadians.
Thirty per cent of retired Albertans are also making a few more lump sum payments, compared to only 27 per cent of national retirees.
Both numbers are still lower than the national average of 42 per cent of all non retired.
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