Financial guru Martin Lewis is urging grandparents to claim a 'little known' benefit that could add £1,000 to their state pension.
As energy bills will be rising and the cost of living crisis continues to rumble on, the money saving expert has been taking to social media to offer as much advice as he can. While he admits he has 'run of out tools' regarding the rising cost of energy, he has been urging people to check what benefits they are entitled to.
As well as using the benefit's calculator on moneysavingexpert.com, Martin posted on Twitter on Monday October 10, to urge people who claim state pension and look after their grandchildren, when the parents (or main carer) are at work, to apply for another benefit.
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The Specified Adult Care offers National Insurance Credits to grandparents or any other adult who looks after someone under 12 while their main carer is at work.
Martin wrote on Twitter: "There's a little known benefit for grandparents who look after their grandchildren while parents work.
"If you're a parent of an under 12, if your parent (ie child's grandparent) do childcare so you can work, you can apply to get them "Specified Adult Childcare Credit."
He added: "This means they get the National Insurance years that normally go to a parent who is off work looking after children (as you're working you'll usually be getting from work). This can add £1,000s to a state pension."
Who is eligible for Specified Adult Care benefit
As stated on gov.uk, you can apply for Specified Adult Childcare credits if:
- You are a grandparent, or other family member caring for a child under 12.
- You were over 16, and under state pension age when you cared for the child.
- You are ordinarily resident in the United Kingdom, meaning England, Scotland, Wales and Northern Ireland, but not the Channel Islands or the Isle of Man.
- The child’s parent (or main carer) is entitled to Child Benefit and has a qualifying year for National Insurance without needing the parent’s class 3 NI credits which they receive automatically from Child Benefit (they can check their National Insurance record online to see if they have any gaps in contributions).
- The child’s parent (or main carer) agrees to your application by countersigning the form to confirm that you cared for their child for the period stated, or you can have the Class 3 NI credit for the period stated.
You should not apply for Specified Adult Childcare credits if you:
- Already have a qualifying year of National Insurance – usually because you work or receive other NI credits (you can check your National Insurance record online to see if you have any gaps in contributions).
- Are receiving Child Benefit for the child – you already get Parent’s credits automatically.
- Are the partner of, and live with, the Child Benefit recipient and you want to transfer the Parent’s credits from your spouse or partner to yourself – you apply to do this on form CF411A.
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