Hard-up carers miss out on £5,000 aid, say experts

Moderna vaccine: Unpaid carer receives first UK jab

When you subscribe we will use the information you provide to send you these newsletters. Sometimes they’ll include recommendations for other related newsletters or services we offer. Our Privacy Notice explains more about how we use your data, and your rights. You can unsubscribe at any time.

They are missing out on £260 per year – or £5,200 over the course of a typical 20-year retirement. Only a fifth of eligible carers have claimed Carer’s Credit since it launched in 2010. It is for those unable to work full time because of caring, and therefore cannot make full National Insurance payments. Carer’s Credit helps a person build entitlement to the state pension by making sure there are no gaps in their National Insurance record.

A person’s state pension is based on the contributions on their NI record.

Now a Freedom of Information request has found claims for Carer’s Credit have dropped 20 percent – despite the number of carers rocketing during the pandemic.

Just 5,209 people claimed in 2020, a drop from 6,489 claims in 2019. In 2015 the Department for Work and Pensions estimated around 200,000 carers are eligible, with women making up a substantial proportion.

Matthew Jones, of Carers UK, said: “We know that taking on a caring role for someone can have a significant impact on carers’ personal finances – with many making the difficult decision to give up work to care or reduce their working hours.

“Carer’s Credit…can provide vital financial security in the longer term.”

People eligible include those who care unpaid for more than 20 hours a week and are unable to claim Carer’s Allowance.

In June last year, figures showed the number of unpaid carers had increased by an estimated 4.5 million to 13.6 million.

Olivia Kennedy, of finance specialists Quilter, which did the research, said: “Carers thinking of their own longterm financial wellbeing is crucial, and the state pension is a big part of that.”

For more information visit Carers UK’s website at carersuk.org

Source: Read Full Article