Unpaid carers missing out on £7,000 retirement boost - how to claim

Unpaid carers missing out on £7,000 retirement boost - how to claim Carer’s Credit is available to those who look after someone for at least 20 hours a week and who are not receiving Carer's Allowance Unpaid carers are being urged not to miss out on a £7,000 retirement boost. Carer's Credit helps people who provide unpaid care to fill any gaps in their National Insurance record. This is important as your National Insurance record affects how much state pension you get in later life. Carer’s Credit is available to those who look after someone for at least 20 hours a week and who are not receiving Carer's Allowance. One year of Carer's Credit is currently worth around £359 a year in state pension income, potentially adding more than £7,000 over a typical 20-year retirement. New data from wealth manager Quilter reveals applications for Carer's Credit have increased dramatically over the past 15 years, rising from just 420 in 2010/11 to 6,770 in 2024/25. In total, around 35,000 applications have been awarded since 2010/11, with more than 30,000 successful applications in the last six years alone. But Census data has previously shown there are around five million unpaid carers across England and Wales, suggesting many people may still be missing out, though not all will be eligible. Jon Greer, head of retirement policy at Quilter, said: "Providing care for a loved one often means putting parts of your own life on hold. That can include reducing your working hours, stepping away from employment entirely or putting your own financial plans on the back burner while supporting someone who depends on you. "While most carers accept those sacrifices without a second thought, the impact on their future finances can easily be overlooked." It comes as new research from Carers Trust projects that the number of people in need of care is set to grow from 8.4 million in 2025 to 10.3 million by 2050. The research also predicts 120,000 more carers will be out of work by 2035, and 1.6 million carers will be in poverty by 2035, rising to 2 million by 2050. Ramzi Suleiman, Policy Manager at Carers Trust, said: "No one should face financial hardship because of their caring responsibilities, and with our recent Caring in 2035 research showing that the number of unpaid carers will grow in the coming decade, it’s vital people know what they are entitled to. "Carers should check if they are eligible for Carer’s Credits, as they are a way of protecting future finances. We encourage carers to reach out to their local carer service who may be able to help carers determine if they are entitled to them.”