Child benefit and state pension - It’s not the most obvious link. But if you are a parent who is looking after a child instead of working, you need to register for child benefit in order to build up your entitlement in retirement age. Austerity swept away the universal child benefit and those households where one parent earns more than £50,000 have to start giving it back until it is removed altogether above £60,000. Unsurprisingly, many who fall into this bracket simply opt not to take it and see no point in registering. Unfortunately, mums and dads who stopped work to look after children are now finding they’ve missed building up their state pension. It should be easy to fix, but HMRC and the government have been stalling parents affected. That’s why This is Money has started a campaign to get this mess fixed, before it gets any worse.
On this week’s podcast, Simon Lambert, Lee Boyce and Georgie Frost discuss how this all happened and why it matters to not just those affected. And finally, can you really have a weekend away in Europe, flights and a decent hotel for £57? Yes you can, thanks to a very clever new website we tracked down.
Once again, it's time for the This is Money podcast. Every week, in partnership with NS&I, Financial Broadcaster of the Year Georgie Frost and Financial Website of the Year This is Money team up to go through all the finance stories you need to know this week.
We're going to be talking about Base Rates remaining steady, despite indications to the contrary - is the Bank of England our unreliable boyfriend? And dreams of owning a home are disappearing for lower-income families, as small-deposit mortgages are drying up amid post-Brexit nerves.
And that's not the only bad news for would-be buyers this week, sneaky estate agents are re-posting listings to make them look much fresher than they are. And finally, we'll be running through Parking Rage, the best cities to live and work, and certain coins that could make you a mint.
This is Money is presented by George Frost, in partnership with NS&I.