Grandparents miss out on tax credits that could boost state pension

January 18, 2017 | 4years | Retirement Planning News

Little-known scheme could put thousands of pounds back into pensions of grandparents who take time off work to look after grandchildren under 12

As many as 100,000 grandparents are missing out on national insurance credits that could boost their state pension by thousands of pounds over the course of their retirement, a former minister has claimed.

The former Liberal Democrat MP Steve Webb, now director of policy at mutual insurer Royal London, said a freedom of information request to HM Revenue & Customs had laid bare the “massive non-take-up” of a scheme designed to help grandparents who make sacrifices to help their children get back to work after the birth of a child.

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