Parents ‘ignorant about childcare vouchers’

Nearly half of working parents are unaware of childcare vouchers and how they can help them save money, according to a survey from Co-operative Employee Benefits. 

Nearly half of working parents are unaware of childcare vouchers and how they can help them save money, according to a survey from Co-operative Employee Benefits. 

The survey of 2,000 parents also showed that 33 per cent were not offered childcare vouchers by their employer - 22 per cent said they would definitely take up the scheme if it were offered to them.

Just over half (55 per cent) of parents polled had children aged between four and eleven.  Sixty-two per cent of respondents said that they had to make financial sacrifices to pay for childcare, but only 40 per cent actually used childcare vouchers to help with the mounting costs of childminders, breakfast clubs and after school programmes.

Vouchers allow tax payers to pay for childcare from their pre-tax income, potentially saving families hundreds of pounds a year. 

Tracy Wilson, Group Operations Manager for Co-operative Employee Benefits, said: “The headlines focussing on the expense of childcare in the UK has highlighted a problem.  There is simply not enough awareness of childcare vouchers and the benefits that they hold for both employer and employee.

“Offering childcare vouchers to your employees shows that you care.  The scheme has been proven to enhance recruitment and retention within both the public and private sector.  Introducing a voucher scheme shows employees that you are committed to family friendly working.  The vouchers can make a significant difference to an employee’s family budget, especially at a time when finances are under strain.

“The scheme is designed to be financially beneficial to both employer and employee.  As vouchers are exempt from National Insurance, the administration costs of running the programme are covered by the NI savings.  

“Any employee with parental responsibility for a qualifying child can claim childcare vouchers, to pay for registered childcare.  Most childcare providers are registered, including wraparound care schemes, childminders, nurseries and holiday play schemes."

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