Only 10% claim National Insurance top up for relatives providing childcare

Child counting money

Up to 90,000 older people are missing out on a top-up added to State Pensions, according to BBC News.

The Adult Specified Childcare Credit is available for those who look after young children and is worth up to £230 a year in retirement. The credit is applicable to those who look after the children of relatives.

In the year ending September 2017, 9,485 applications for the credit were made. That is a marked increase on the figure for the previous year, following a government campaign to improve uptake.

Insurers Royal London have calculated that around 90% of those eligible for the credits are failing to claim them.

The credits are available to family members caring for a child under 12, where the child’s main carer or parent is in paid employment. The credit helps to make up an individual’s National Insurance record for gaps in contributions. Workers now need 35 years of National Insurance contributions to qualify for a state pension.