03 September 2018

Royal London welcomes DWP call for parents not to miss out on NI credits

3 min read

 
Helen Morrissey, Personal Finance Specialist

Helen Morrissey

Personal Finance Specialist

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Commenting on today’s announcement that Secretary of State for Work and Pensions Esther McVey has called on parents to ensure they receive their full entitlement to National Insurance credits that count towards their State Pension entitlement Spokesperson Helen Morrissey said:

"The introduction of the High Income Child Benefit Charge in 2013 has led to many parents deciding not to claim Child Benefit but many did not realise that by doing so they also lost out on valuable National Insurance credits that count towards their State Pension. Royal London figures show that some mothers may have lost out on as much as £23,000 in state pension rights since 20131. We welcome the secretary of state’s comments on the issue and hope it encourages more people to check their entitlement."

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For further information please contact:

Helen Morrissey, Personal Finance Specialist

About Royal London:

Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £117 billion, 8.8 million policies in force and 3,745 employees. Figures quoted are as at 30 June 2018.