Thousands of grandparents who look after their grandchildren are missing out on ‘specified adult childcare credits’, a perk that could increase their state pension.

If a mother goes back to work after the birth of her child, she can sign a form that allows a grandparent, or another family member, to receive national insurance credits if they’re providing the childcare. They can only receive the credits if the child is under 12.

One year of the tax credits can be worth around £250, or £5,000 over a 20-year retirement.

The grandparent or family member that applies for this credit must be under State Pension age.

For more information, click here.

Comments are closed.