Child benefit changes 'wipe £23,000 off' higher income mums' state pension

The provider said changes to the child benefit system in 2013 could have cost mothers more than £23,000 in state pension rights, based on a 20-year retirement. The total amount in future pension rights lost since 2013 is estimated to exceed £1bn. In January 2013, a ‘high income child benefit tax charge' was introduced. For couples where one partner earns £60,000 per year or more, a tax charge is incurred which wipes out the value of the child benefit.  As a result, around half a million families who were receiving child benefit decided to opt out, and tens of thousands of families hav...