State pension alert as grandparents could boost sum by £2,340 amid cost of living crisis | Personal Finance | Finance
“For example, if two grandparents are caring for their daughter’s two children, there is only one credit available for transfer and the Child Benefit recipient must decide who should have the credit.
“However, if the grandparents are caring for their daughter’s child and their son’s child, there are likely to be two Child Benefit recipients and therefore two credits available for transfer.”
Eligible people will receive a Class 3 NI credit for each week or part week they cared for the child.
These contributions help build entitlements to the state pension, and can therefore help to stop gaps in one’s NI record.
Experts estimate this could be worth up to £2,340 in state pension.
For all the latest Business News Click Here
Denial of responsibility! FAECO is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – at firstname.lastname@example.org The content will be deleted within 24 hours.