Workplace Nursery Salary Sacrifice
Workplace Nursery Salary Sacrifice enables working parents to save thousands of pounds at their chosen nursery setting.
Typical savings are at least £3,000 a year while some parents in London, especially those with more than one child in nursery can save more than £10,000 per year.
A workplace nursery salary sacrifice scheme is a great benefit for employers to implement as it provides substantial support to their working parents. It is a workplace benefit that can be set up with a company such as Enjoy Benefits, who then help facilitate the scheme.
The employer partners with an already established nursery – it is crucial that this partnership is meaningful and therefore must be demonstrated through additional financial and managerial aspects, that Enjoy Benefits help facilitate.
The benefits, though, are not just for employees. Research shows that a huge proportion of parents who work part time would like to work extra hours if only childcare was more affordable. Furthermore, offering a workplace nursery salary sacrifice also leads to increased staff retention and helps recruit quality newcomers.
The benefit has the same impact as offering an increased salary; it might not be practical to offer thousands of pounds more in salary, but helping someone save that same amount in childcare costs can be just as beneficial.
Workplace Nursery Salary Sacrifice – How It Works
The scheme works by an employer setting up a partnership with a nursery. The cost comes out of the employee’s salary as a full salary sacrifice, thus saving them thousands of pounds.
The scheme also benefits the nursery as they get additional funds from the employer. It is agreed by the employer how the monies should be used to best effect at the nursery to help with issues or challenges they are facing in management of their nursery.
The nursery also gets all payments from parents using the scheme at the same time, with no need to chase payment.
We mentioned the savings available via a workplace nursery scheme but just how much can parents save via salary sacrifice?
To give a few examples:
For basic rate tax payers.
An employee with fees of £1,700 per month will make a saving of £3,876 per year.
For higher rate tax payers
An employee with fees of £1,700 per month will make a saving of £7,089 per year.
Why Consider Enjoy Benefits
Enjoy Benefits has over 20 years of experience in implementing the scheme for our clients; this has allowed us to grow a full dedicated Workplace Nursery team, who will assist with client queries, liaising with nurseries and offer all-around support when an employee enquires.
Contact Us
If you are interested in setting up a workplace nursery scheme or simply want more information, please call us on 0800 088 7315 or use our Contact Form.
Queries are dealt with within 1 working day.
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Queries are dealt with within 1 working day.
Contact Form
talk to our team
0800 088 7315
