Parents and carers should make sure they are getting National Insurance credits which may improve their State Pension income.
Secretary of State for Work and Pensions, Esther McVey today urges parents with children under 12 to ensure they receive the valuable National Insurance credits which may improve their State Pension income.
Some parents may inadvertently be missing out on retirement income to which they are entitled, the Secretary of State warned today. To ensure they receive National Insurance credits parents must submit a child benefit claim, even if they opt out of receiving any payments.
Credits can help to fill gaps in National Insurance records, and help people to qualify for some contributory benefits including State Pension.
The full new State Pension is £164.35 per week – or around £8,500 a year – however, the actual amount you get depends on an individual’s National Insurance record.
Esther McVey, Secretary of State for Work and Pensions said:
I urge everyone to check their eligibility and apply for any credits for which they qualify and are entitled to. Don’t miss out on potentially increased pay-outs from your future state pension.
The State Pension is a foundation for retirement. If you are caring for a child or a relative then you may be eligible for National Insurance credits which will strengthen this foundation.
National Insurance credits aim to ensure that someone’s State Pension is not affected if they are unable to work and pay National Insurance contributions. Read more