PEOPLE who care for grandkids could be missing out on state pension credits.
Some 10,084 applications for “specified adult childcare credits” were approved in 2017-18 — up from 1,298 in 2015-16.
Any family member looking after an under-12 while their parents are at work is eligible.
The credits boost their National Insurance record if they are under state retirement age which can help build a full pension.
Royal London, which obtained the figures, said: “The numbers benefitting are a drop in the ocean out of those who could.”
Someone who claims these credits for a year could potentially add an extra £250 annually to their pension.
It is estimated there are more than seven million grandparents in Britain.
Credit: Source link