Grandparent credits can increase state pension by up to £20,000 through babysitting grandchildren.
Mike Wagner, a grandfather from Surrey, discovered that caring for his grandchildren could boost his state pension by nearly £20,000. By babysitting his grandkids, he contributed to their parents' National Insurance, which helped Mike reach the necessary 35 years of contributions for a full state pension. This little-known trick, called 'grandparent credits,' can potentially increase one's state pension by up to £20,000.
July 16, 2024
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