Half of grans act as unpaid childminders

... and many provide cash help too

MORE than half of grandparents in Scotland are looking after their grandchildren on a regular basis as working parents struggle to meet soaring childcare costs.

And research shows that families are increasingly relying on the bank of gran and granddad to help with the cost of bringing up children.

A poll found 52 per cent of Scottish grandparents assist their children by providing childcare. Almost all, 96 per cent, said they did so willingly, and without any payment.

One in ten grandparents manages to give their grandchildren

‘Aware of demands on families’

more than 20 hours of care per week, which equates to £90 or £4,320 a year.

A fifth look after their grandchildren for ten to 19 hours per week and 26 per cent provide childcare for between five and nine hours.

Two in five – 41 per cent – provide up to five hours of childcare per week, saving parents £22.50 or £1,080 over a year in childcare costs.

Without help, many families are facing annual bills of up to £12,000 for childcare.

The research, by polling company YouGov for the Bank of Scotland, also revealed that a quarter of grandparents are spending up to £300 a year to help meet the cost of school uniforms and sports kits.

And 24 per cent of those asked said they were saving for their grandchildren’s future.

Ricky Diggins, a director at Bank of Scotland, said: ‘It seems grandparents are well aware of the demands on today’s families and are happy to help, not only taking care of their grandkids’ day-to-day needs but also by saving for their future.’

The research also highlighted how grandparents are providing support during school holidays. More than a third – 34 per cent – occasionally take their grandchildren away on holiday, either with or without their parents, and one in ten says they regularly go on holiday with them.

Many grandparents also help out with transport – 27 per cent regularly drop off and collect their grandchildren from nursery or school, and 42 per cent said they occasionally help out on the school run.

Meanwhile, a study by finance firm Prudential found nearly a third of those planning to retire this year are helping out their families financially to the tune of around £4,300 a year, increasing pressure on their own retirement plans and income.

Nearly a fifth of those looking to giving up work estimate they provide more than £500 a month to family members.

The money is most commonly used for everyday living costs such as food and travel, according to 27 per cent of those who give money monthly.

Stan Russell, retirement income expert at Prudential, said: ‘Increasing financial pressure faced by people of all ages, such as the cost of university education and the rising cost of buying a home, means that providing financial support to family members continues well in to retirement.’