Save or don't save, it's your choice.
A nationwide study by childcare voucher specialist Childcare Choice has shown that firms are missing out on savings of up to £373 per year for every employee that uses the scheme. Government figures show that one in four UK employees have dependent children so, for a company employing 250 employees, this could mean annual savings of over £23,000. Furthermore, each working parent could also be saving up to £1,195 a year by using childcare vouchers.
Find out how much of your childcare costs you could save by using the Childcare Choice savings calculator.
To find out more about the research, childcare vouchers, or to arrange an interview please contact Richard Chapman or Crispin Slee at Grayling on 020 7255 1100.
About Sodexho Pass and Childcare Choice
Sodexho Pass UK is a leading provider of voucher services in the UK. In September 2001 the company launched ‘Childcarepass’, bringing fresh innovation and much needed customer service to the childcare voucher market. In November 2004, the company launched Childcare Choice – a second childcare voucher scheme aimed at small to medium sized companies.
Sodexho Pass UK was voted ‘Childcare Voucher Provider of the Year’ at the annual Employee Rewards and Benefits Magazine gala dinner in February 2006. The award was given in recognition of Sodexho Pass UK bringing innovation and customer focussed development into the childcare voucher industry.
About childcare vouchers
Childcare vouchers which allow parents to save money on their income tax and National Insurance Contributions were introduced by the Government in 2005. Childcare vouchers offer significant savings to both employers and employees. The maximum each parent can now save is £1,195 per year. Employers operating the scheme pay reduced Employer National Insurance Contributions, resulting in savings of up to £373 per year for every employee who is signed up to the scheme.
About the research
Sodexho Pass conducted the research among 3,409 UK companies with over 250 employees.