HM Revenue & Customs has launched an urgent campaign targeting millions of Britons who could be sitting on thousands of pounds in unclaimed National Insurance credits. The government body is specifically focusing on individuals born between 1970 and 1989 who may have missed out on valuable state pension entitlements.
Who Exactly Is Affected?
The campaign centres around parents, primarily mothers, who claimed Child Benefit between 2013 and 2016 but didn't complete the full application process. During this period, changes to the system meant that even if one parent earned over £50,000, the other could still receive valuable NI credits towards their state pension by registering separately.
The Staggering Numbers Behind the Campaign
HMRC estimates that approximately 1.5 million people, mostly women, could be missing these crucial credits. The average value per person is believed to be around £3,000, representing a potential total windfall of £4.5 billion for UK households.
Why These Credits Matter So Much
National Insurance credits are essential for building your state pension entitlement. Each missing year could reduce your eventual pension payout by hundreds of pounds annually. For those with multiple missing years, the impact on retirement income could be substantial.
How to Check If You're Eligible
HMRC is proactively writing to those they believe may be affected, but you don't need to wait for a letter. You can:
- Check your National Insurance record online via GOV.UK
- Contact the National Insurance helpline directly
- Review your Child Benefit claim history if you applied between 2013-2016
What You Need to Do Next
If you discover missing credits, the application process is straightforward. You'll need to complete a simple form, and HMRC has assured that successful claims will be backdated to ensure no one loses out on their rightful entitlements.
Time is of the essence - the sooner you check, the sooner you could boost your retirement savings by thousands of pounds.
