1 million UK families risk losing £6,500 in retirement due to not claiming Child Benefit, affecting state pension entitlement.
1 million UK families at risk of losing £6,500 in retirement due to not claiming Child Benefit, which also provides National Insurance credits crucial for state pension entitlement. Since the Higher Income Child Benefit Charge came into effect, the number of families claiming Child Benefit has dropped by 1 million, resulting in potential loss of vital NI credits for state pension. Government has promised to allow parents to repair state pension records from 2026.
April 18, 2024
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