What is Childcare Salary Sacrifice?
Mintago’s Childcare Salary Sacrifice Scheme allows your employees to pay for their children’s nursery fees on a salary sacrifice basis, reducing their childcare costs by up to 47%.
The scheme automatically covers 2,000 nurseries, although setups for additional nurseries just take two to three weeks, with an 80% to 90% success rate. OFSTED-approved nurseries qualify, but childminding does not.
How does Childcare Salary Sacrifice work?
With our Childcare Salary Sacrifice Scheme, your employees have higher take-home pay, as a result of paying less Income Tax and National Insurance.
All your staff are eligible, as long as the salary sacrifice amount does not reduce their incomes below the national minimum wage. Implementation, nursery liaison and employee changes are managed for you, and there are no penalties for employee exits. To opt in, your people can just express their interest to join the scheme via the Mintago platform benefits page.
Increase employee retention
If the parents at your company can afford childcare, they’re less likely to leave for more money.
Increase productivity
Knowing childcare is taken care of allows employees to focus more on their work.
Reduce absenteeism
Reliable, affordable childcare means fewer last-minute absences.
EVERYONE WINS
What does it cost?
The scheme is great value, as there are no costs for employees who opt in. It is also cost-neutral for employers, with savings of 1.38% of the salary sacrificed amount. Mintago offers the most competitive pricing in the market, and you won’t find another platform that matches us on both features and price, guaranteed.
