Saga babysitters Many of today's grandparents spend a week every month looking after their grandchildren - with nine out of ten not receiving a single penny for their efforts.
Saga's Populus survey - the UK's largest poll of the over 50s - revealed that half of all grandparents regularly fulfil a surrogate parenting role for their grandchildren, with the overwhelming majority doing it for love.
Among these older babysitters almost half spend more than 16 hours a month with their grandchildren, while nearly one in five spend more than 40 hours.
A quarter of all grandparents questioned said they have reduced their own working hours to make time for grandchildren.
Of those who are 'paid', the majority receive payment in kind, such as help around the house. Only one per cent of grandparents are paid cash for their efforts.
However, many grandparents find themselves short of money after dipping in their pockets for their little ones' treats and activities.
On average, grandparents spend £10.75 per day per child. But most grandparents look after two children at a time, with costs more than doubling as a result. More than three quarters of grandparents are not reimbursed for these costs, nor are they eligible to claim childcare benefit payments.
As caring for grandchildren takes up so much time, it's hardly surprising that more than half of grandparents - and 61 per cent of all those polled - think parents should be able to claim benefits for grandparents as they can for professional childcare. Considering the huge cost of British nurseries, it's understandable that many parents are keen to have as much childcare help as possible.
Andrew Goodsell, Chief Executive of Saga Group Ltd, said: "Looking after children is a serious commitment, but grandparents often choose to provide this support and place the monetary implications of reducing their own working hours into second place.
"However, it's enjoyment rather than obligation that drives them to spend this much time with their grandchildren, with 36 per cent of respondents stating that they do it because they enjoy it."