Martin Lewis issues state pension warning as 200,000 miss out on ‘thousands’ of pounds

Martin Lewis issues state pension warning as 200,000 miss out on 'thousands' of poundsThe Martin Lewis Money Show Live, ITV

Transcript

00:00 Really important first one, this.

00:01 It's about child benefit and the state pension.

00:03 I have two state pension warnings for you.

00:05 There are 200,000 of you out there

00:07 who are missing out on thousands or potentially tens

00:10 of thousands of pounds of state pension

00:13 because the wrong partner in your relationship

00:15 is getting the national insurance credits.

00:17 Now, you build up national insurance years

00:19 that gives you how much of the full state pension

00:21 you get in the end.

00:23 Those who are not working or earning under 123 quid a week

00:26 are due national insurance credits for child care.

00:30 However, for many people in that circumstance,

00:32 it is their partner who is working

00:35 who does the child care claim, not them.

00:38 But the working partner already gets national insurance

00:41 credits because they're working.

00:44 So you want the non-working partner

00:46 to be getting the credits, and they therefore

00:48 need to be the one who is claiming child benefit.

00:51 200,000 people.

00:53 The form on gov.uk is CF411A.

00:56 You'll all be able to remember that, I'm sure.

00:58 Or just freeze the frame on, or go and watch it back.

01:01 And you should do it.

01:02 But absolutely crucial, check who gets the child benefit.

01:04 If you're not working, it should be in your name if you can.

01:07 There may be some domestic abuse issues

01:09 where it isn't appropriate.