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As many as 90,000 grandparents and family members are missing out on a little-known perk that can increase their State Pension. National Insurance Credits for those who look after young children can be worth up to £230 a year in retirement. Insurance firm Royal London said 90% of those eligible were failing to claim the perk, known as Adult Specified Childcare Credit.
It is for family members who look after their relatives' children. Parents or main carers can claim National Insurance Credits under a separate scheme. In the year to September 2017 there were 9,486 applications for the credit. However, that was a significant increase on the previous year, following an awareness campaign.
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