In the last year, almost half (42%) of parents and grandparents aged 55 and over have assisted younger family members with childcare. Those who have provided childcare spend the equivalent of a long workday (almost 9 hours) childminding per week.
Parents and grandparents – the ‘Bank of Family’ – are offering childcare support to family members that is equal to around £38 billion per year, according to research from Legal & General and the Centre for Economics and Business Research (Cebr) 1.
Latest figures from the Office for National Statistics show that in 50% of working families both parents are employed full-time2, and many are calling on their wider family for help. Almost half (42%) of parents and grandparents aged 55 and over have assisted their family by providing unpaid childcare in the past year.
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