MMU recognises the importance of achieving a work-life balance, particularly if you have childcare responsibilities. We also understand that there can be high costs associated with childcare.
In conjunction with a company called Fideliti the University has in place a scheme to allow you to make significant savings to the costs of your childcare for children up to the age of 16.
Under the scheme part of an employee’s salary can be given up or ‘sacrificed’ in exchange for Childcare Vouchers. Up to a certain amount, these vouchers are non-taxable and exempt from National Insurance Contributions and therefore represent a saving for MMU staff who receive them as part of their employment package. The Childcare Vouchers received are then exchanged, in whole or part, for the childcare services staff use.
From 6th April 2011, childcare voucher legislation will be changing for higher rate tax payers. Presently, each employee is entitled to £243 per month, under the new rules all members joining the scheme after the 6th April will undergo an earnings assessment to determine their tax bracket. Higher rate taxpayers will only be eligible to £124 per month in vouchers while basic rate taxpayers will continue to enjoy their current entitlement. However, if you join before April 6th 2011 or are an existing member of the childcare voucher scheme then you will not be affected by the changes, regardless of your tax band.
Key points to note about Childcare Vouchers:
To join or for further information, visit www.fideliti.co.uk or call them on 0800 288 8727 and quote our scheme reference number MMU7566 (please have a copy of your current payslip to hand for reference).