Thousands of grandparents miss out on income boost

Thousands of grandparents miss out on income boostLooking after grandchildren is something many people enjoy. But few are aware that it can mean losing a substantial amount from their state pension. The good news is that there is a little-known scheme, which could give them back the thousands of pounds that would otherwise be lost. According to Sir Steve Webb, former Minister of State for Pensions and Liberal Democrat MP, thousands of grandparents who provide childcare, are missing out on National Insurance credits that could boost their state pension. Now Director of ...

NI contribution error puts pensions at risk

Tax mistakes could mean that the pensions of some British workers are docked. National Insurance shortfalls suggest that many employees may not have made enough payments for a comprehensive pension pot when they retire from their job. Millions of workers may not receive their full pension provision when they retire due to a National Insurance contribution error made by HMRC. Over 9.3 million NI payments were not matched correctly with employee records between 2004 and 2009, which means that some workers may fall short of the 30 year contribution requirement needed to attain a full pension.