Social Security Could Increase for Millions of Parents Under New Bill
A new bill in Congress aims to increase Social Security benefits for parents who stay home to care for their children. The Social Security Caregiver Credit Act of 2026 would allow these caregivers to receive credits toward their retirement benefits, addressing financial disparities caused by unpaid caregiving. This legislation seeks to recognize the economic contributions of caregivers and improve their retirement security.
- ▪The Social Security Caregiver Credit Act of 2026 would credit parents who stay home with their kids toward future retirement benefits.
- ▪Eligible caregivers can receive credit for up to 60 months of caregiving, equating to five years.
- ▪The bill aims to change how Social Security benefits are calculated, allowing caregiving years to count toward benefit formulas.
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By Jenni FinkSenior Editor, PoliticsShareNewsweek is a Trust Project memberSee more of our trusted coverage when you search.Prefer Newsweek on Googleto see more of our trusted coverage when you search.A new bill in Congress, titled the Social Security Caregiver Credit Act of 2026, would change how Social Security benefits are calculated, meaning millions of parents could end up with larger payments when they retire."Too often, families must risk their own financial security when doing what we all would do – providing essential care for spouses, parents, grandparents, or children,” Representative Brad Schneider, the bill's sponsor, told Newsweek.
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