Childcare Voucher Schemes due to close to new applicants from next April
Many people are unaware of upcoming changes to the Childcare Voucher Scheme, despite significant reforms coming into force in just six months.
From April 2018, Childcare Voucher Schemes will be closing to new applicants. Employees who have already signed up to a company’s scheme will be eligible to keep receiving vouchers, but they will not be able to rejoin the programme if they leave and will not be able to join their new employer’s scheme if they change jobs.
Although the vouchers are essentially being replaced by tax-free childcare, the two schemes do not operate in exactly the same way and some parents would be worse off financially if they ditched their vouchers in favour of the new system.
“This is a major development and should be communicated like any other change,” said Mark Dyer, Petaurum Solutions Benefits Director. “Employers may want to address it as part of a review of their family-friendly working policies and ensure that their staff understand the difference between the two schemes so they can make informed decisions.”
“We have supported many companies over the years in designing, implementing and running their Employee Benefit Schemes and combined with our expertise in change management, we would be delighted to help manage the impact of this change” added Dyer.
Contact us if you need support in communicating the impact of this forthcoming change to your staff or want to open a Childcare Voucher Scheme for your company before the changes come in effect.