UK grandparents provide £33 billion of free childcare

Millions of grandparents are taking on the role of ‘second mum and dad' to their grandchildren, helping out with everything from childcare to cooking family meals.

New research from Aviva suggests that around half of all UK grandparents - 7 million people - now look after their grandchildren and help around the house while mums and dads work. Of these, 99.5% do so without pay. The study shows that on average, each grandparent will care for two children for around 13 hours a week. With equivalent childminding costs standing at almost £2,400 per child annually, this amounts to an estimated saving of more than £33 billion for UK parents each year.

However, these ‘grand-helpers' are feeling the pressure as a result of their kindness:

32% feel guilty if they ever say 'no' to looking after their grandchildren
30% actually cancel their own plans to mind their young charges
23% feel taken for granted at times
One in eight (13%) feel financially worse-off as a result of looking after their grandchildren
One in 20 say they would like to do more paid work but can't because of childminding duties

And with Aviva data showing that 68% of people in the UK plan to work beyond the standard retirement age it is possible that future grandparents won't be available to offer the same level of support.

However, on a more positive note the vast majority of grandparents see clear emotional benefits to helping out their families:

88% feel closer to their grandchildren because of the time they spend with them
59% say they are more patient with their grandchildren than they were with their own children

Louise Colley, head of protection marketing for Aviva says: "It's great to see so many grandparents involved in the lives of their families, but it's a worry to see that some are financially worse off as a result. With grandparents already feeling squeezed, it's vital that mums and dads take time to think about what would happen if they weren't around to look after their own children.

"We know from our research that the cost of raising a child to age 21 is more than £270,000, yet we're also aware that 93% of UK families feel under-protected financially. So while it's not something people like to think about, it's crucial parents have life insurance in place just in case the worst happens and grandparents are left holding the baby - and all the costs this entails."

In addition to childminding, grandparents' help extends to:

15% help out financially with occasional household bills
28% regularly do the school run
26% cook occasional meals for the family
33% help grandchildren with their hobbies
13% assist with gardening