Caring for your pension

Thinking about your pension is not normally at the top of anyone’s agenda until they come close to retirement, and this is no different for carers. However, if your working life is interupted because you leave a paid job to care for someone, it can have a devastating impact on your pension longer term.

Many people are shocked to find out that not everybody automatically qualifies for a full basic State Pension on reaching retirement age. In order to qualify you must have made a certain amount of National Insurance (NI) contributions towards it throughout your working life. If you miss paying these because you have taken time out of paid work, then you may lose out.

The good news is that if you fall out of paid work because you are caring for someone who is disabled, ill or frail then the state will credit your contributions for you. However, this isn't automatic and only happens if you claim the right benefits and take the right action. This makes it critical for carers to get good advice on their pensions.