From financialnewswire.com.au: Colonial First State’s latest Rethinking Retirement report indicates that 28% of pre-retirees and 14% of retirees in Australia are burdened with mortgage debt, defying the desire to retire debt-free.

The research reveals that nearly one-quarter of retired homeowners and 30% of non-homeowners use their pension payments to manage ongoing debt.

Financial advice positively impacts confidence in retiring debt-free, with confidence increasing from 45% to 63% when advice is sought.