Households are being urged to take advantage of a state pension boost which would see peoples' typical retirement income go up by £6,000, the equivalent of £328 per year.
Based on a Freedom of Information (FOI) request carried out by wealth management firm Quilter, there was a 55 per cent hike in the number of people claiming carer's credits in the 2023/24 tax year, compared to the last four years.
When an individual is looking after a loved one and is not claiming Carer's Allowance, they may be entitled to these credits which go towards their state pension entitlement.
In order to qualify, claimants have to between 16 and the current state pension of 66, as well as being caring for at least one person for at least 20 hours a week.
Last year, 9,940 Britons claimed the National Insurance credit compared to the average of 5,836 annually since 2019/20 tax year.
In 2023/24, 9,040 people claimed the credit compared to an average of 5,836 people per year since 2019/20.
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Carers could boost their pension entitlement
GETTYAccording to the latest figures, 32,384 people over the last five tax years have taken advantage of carer's credit.
Every annual credit someone misses could cost them 1/35th of the value of their state pension.
As such, claiming the credit could potentially boost an individual's state pension by £328.
This means someone could be in receipt of an overall retirement boost worth £6,000.
Last year, the number of claims was 44 per cent higher than 2019, which was the previous highest when 6,274 people claimed carer’s credits.
During the pandemic, data reveals there was a significant drop in the number of claims made before a recovery in uptake in 2022.
In 2020 and 2021, 5,338 and 5,599 Britons respectively applied for carer’s credits compared to 6,274 in 2019.
Figures from the Office for National Statistics (ONS) found there were around 4.7 million unpaid carers in England as of March 2021.
Jon Greer, the head of retirement policy at Quilter, highlighted the "devastating impact" failing to apply for these credits can have on someone's state pension entitlement.
He explained: "Encouragingly, more individuals are now taking advantage of carer’s credits to ensure they don’t end up with gaps in their National Insurance record and don’t receive the full state pension as a result.
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Pensioners have seen their incomes hurt during the cost of living crisisGETTY "The new Labour Government with its large majority must tackle the social care crisis. The UK’s social care system is crumbling, and Britain’s unpaid carers pick up the slack, so it is only fair that they receive at least a pension credit in return.
"There has been a growing awareness of the importance of filling in gaps in your National Insurance record in order to receive the full state pension, which may have prompted more carers to apply for the credit.
"While the increase in claims is positive, there are likely still thousands of eligible individuals who haven’t applied. It’s crucial for anyone who performs a caring role to check their eligibility and apply."
Britons can start their carer's credit applications by applying via the Government's website.
