Martin Lewis shared a clever way for grandparents to boost their future State Pension payments if they are not due to receive the full amount in retirement. If you have already reached State Pension age, you may still be able to make a backdated claim if you looked after grandchildren at any point since 2011 and before you reached retirement age.
During a special State Pension edition of The Martin Lewis Money Show Live on Tuesday, the financial expert shared different ways to boost retirement payments through Pension Credit and explained the complicated process of plugging gaps in your National Insurance record through buying missing years. However, he also shared a free way to boost State Pension payments without handing over any money.
Martin gave a brief overview of Specified Adult Childcare, or as he calls it - ‘grandparents child care credit’. This is where a working parent, claiming Child Benefit, transfers their National Insurance credit to the person looking after the child - who must be under 12 - as the parent will already be receiving credits through their salary.
