Record number of families opt-out of claiming child benefit, but the decision could have serious repercussions for your future

Mother holding her child up in the air child sitting on the floor at home surrounded by toys.

The number of families opting out of receiving child benefit has hit an all-time high, according to new government data. But opting out of child benefit could have serious consequences when it comes to your pension.

The latest government statistics, based on those claiming child benefit as of August 2023, show that fewer families were claiming and receiving the benefit compared to the previous year. In August 2023, 7.65 million families were claiming child benefit, 47,000 fewer than in August 2022. Similarly, 6.91 million families actually received the benefit, 106,000 fewer than in the previous year.