News

Grandparents who provide childcare becoming 'financially unstable'

Families
One in five grandparents who provide childcare have given up work or cut their working hours to do so, reveals a new survey.

A poll of more than 1,600 users of the Gransnet social networking site, aimed at the over 50s, reveals that over half (51 per cent) regularly look after their grandchildren all year round.

Of those that say they provide regular childcare for their grandchildren, 21 have either given up work or reduced their working hours to do so. Consequently, this has led to 27 per cent becoming ‘financially unstable’.

The majority of survey respondents (56 per cent) provide one or two days of childcare per week. However, for 7 per cent, it is a five-day commitment.

More than 80 per cent of grandparents are looking after one or two grandchildren, while 3 per cent are looking after four or more at a time.

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