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How eligible grandparents can boost their state pension with childcare credits
Quilter said 79% of 202,037 applications were approved, as the credits can fill national insurance gaps and lift retirement income.
- Wealth manager Quilter revealed that 202,037 applications for Specified Adult Childcare Credits have been submitted to HM Revenue & Customs since 2016, with approximately 79%, or 159,116 applicants, securing approval to boost their State Pension.
- Grandparents providing childcare for children under 12 can qualify for National Insurance credits by transferring them from a parent receiving Child Benefit, helping fill gaps in their NI record.
- Applications surged from 29,967 recorded in 2022-23 to 42,964 in 2023-24 following media attention, though HMRC data indicates more than 40,000 applications were unsuccessful.
- Jon Greer, head of retirement policy at Quilter, commented: "For many people, securing the full state pension is a key foundation of later life income, and these credits can offer grandparents a relatively simple way to strengthen their entitlement."
- Eligible individuals can submit retrospective claims for credits dating back to April 6, 2011, and GOV.UK guidance confirms that even remote childcare provided during pandemic lockdowns may help grandparents plug gaps in their National Insurance record.
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13 Articles
13 Articles
How eligible grandparents can boost their state pension with childcare credits
Specified adult childcare credits (SACCs) are designed to help eligible people below state pension age build up their state pension rights and plug gaps in their national insurance (NI) records
·London, United Kingdom
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Coverage Details
Total News Sources13
Leaning Left1Leaning Right1Center9Last UpdatedBias Distribution82% Center
Bias Distribution
- 82% of the sources are Center
82% Center
C 82%
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