Childcare Vouchers: cut childcare costs by £1,000/year Discussion Area

onlyroz

Well I've forwarded the petition to my workplace and I think you should all do the same.

Ama

Hellyk wrote: »

Hello everyone,

I am wondering what the effects of doing the childcare vouchers are on your state and private pension? Sorry if this has been asked before.

If your employer and you are not paying as much NI then presumably that means something? Also, if you have sacrificed some of your salary does that have any implications on your company pension? I can't believe that it doesnt as you and your employer will be paying amounts based on a lower salary won't you?

Can anyone clarify this?
Many thanks
Helen

This section on the forum I believe is about saving childcare vouchers but you asked the question so I will try and answer. The long and short of it all is that yes it will have minimal effect on your pension. What it effectively mean is that you are not paying pension on £2916 of your salary per year. Most people are not bothered as the tax savings far outweight the loss in pension contributions. Fee direct is a different ball game all together. If you are that concerned, then you can always put the money aside or make extra voluntary contributions to your pension scheme if permisible.

Hope this helps.

Now back to the subject at hand.....please make sure you go onto the website and sign the petition even if you believe vouchers are not the right thing for you at this point in time.

Savvy_Sue

Hellyk, there’s an article on the main site you might like to read that gives more information on this subject, and I think has a calculator so you can work out what you might lose by way of pension etc.

lisa866431

I've just had notification from inland revenue that they are cutting my tax allowance by the amount I am claiming for childcare vouchers prior to being taxed - is this right??? whats the point???

Ama

lisa866431 wrote: »

I've just had notification from inland revenue that they are cutting my tax allowance by the amount I am claiming for childcare vouchers prior to being taxed - is this right??? whats the point???

Cutting your tax allowance doesn't make sense but cutting your tax credits make sense. Can you clarify??

dollypop

Is anyone else having a problem following Busy Bees merger with Computershare Voucher Scheme? My employers have made a payment to them in the middle of their migration and now they cannot find where that money has gone and are refusing to issue vouchers to me

I have had this money deducted from my salary yet tomorrow my sons bill is due for payment and I am going to have to find the missing £243 myself to meet this bill.

I am just trying to find out if its just me thats unlucky or if there are lots of MSE'rs all trying to sort out our own bit when we could all shout louder together

Thanks!

PlasticMan_2

Hi Dollypop,

I'm having the exact same problem.

The busybees website was always a bit clunky to use, but the new computershare one is much worse. The statement view is all wrong - the employer credit amounts and dates match the payments, rather than showing 160 pounds of credit every month as they should do. Also the voucher references have disappeared so I can't make head nor tail of it. Not to mention my new login details being a right pain!

I would advise anyone trying to phone them on 0845 0021111 to select the "registered employer" option in the menu system. That got me through straight away (after waiting half an hour as a "parent").

Computershare have now said that my vouchers were previously being paid early (like a salary advance) but this one may be delayed a little because of the changeover, but it should appear soon.

I've also noticed that Computershare are the ones driving this whole "save the vouchers" "campaign". ie, it's being run by a multinational company - not grass roots campaigners (parents). I think they're just worried about their business, not hard-up parents and children. Hence they've started this rabble-rousing email and web campaign to try and keep the voucher system going.

I'd rather they abolished the unfair voucher system (apparently a THIRD of the benefit for employer supported childcare goes to the 6% of parents who pay tax at the higher rate (i.e. the richer ones). Abolish the vouchers, put Computershare out of work and I'll take the tax credits (for low AND middle income parents) and free nursery places, thanks very much.

surreysaver

Just logged onto the new Computershare site - it looks a mess. They no longer advertise a freephone number, it is difficult to contact them electronically - they only have an e-mail address rather than a contact form. The dates of previously issued vouchers are all wrong.

Busy Bees were bad, but this lot of buffoons look worse.

sconeysnacks

Hi there,
Thanks for the tip re getting thru to computershare via the employers option, had spent probably 90 minutes on hold trying to get password reset.

My husband recently changed jobs and had to leave our existing childcare voucher scheme as his new employer operated via busy bees, hadn't any problems getting set up or making payments. However, our account screen doesn't resemble what it should, I didn't think to take a screen shot but I am sure they have not transferred over £243.
Seriously thinking of taking the tax hit and just cancelling the account.

Sooo frustrated, can't even think straight

Spendless

PlasticMan wrote: »

Hi Dollypop,

I'm having the exact same problem.

The busybees website was always a bit clunky to use, but the new computershare one is much worse. The statement view is all wrong - the employer credit amounts and dates match the payments, rather than showing 160 pounds of credit every month as they should do. Also the voucher references have disappeared so I can't make head nor tail of it. Not to mention my new login details being a right pain!

I would advise anyone trying to phone them on 0845 0021111 to select the "registered employer" option in the menu system. That got me through straight away (after waiting half an hour as a "parent").

Computershare have now said that my vouchers were previously being paid early (like a salary advance) but this one may be delayed a little because of the changeover, but it should appear soon.

I've also noticed that Computershare are the ones driving this whole "save the vouchers" "campaign". ie, it's being run by a multinational company - not grass roots campaigners (parents). I think they're just worried about their business, not hard-up parents and children. Hence they've started this rabble-rousing email and web campaign to try and keep the voucher system going.

I'd rather they abolished the unfair voucher system (apparently a THIRD of the benefit for employer supported childcare goes to the 6% of parents who pay tax at the higher rate (i.e. the richer ones). Abolish the vouchers, put Computershare out of work and I'll take the tax credits (for low AND middle income parents) and free nursery places, thanks very much.

The ones who pay the most tax! My husband falls into this bracket. I on the other hand had to take time out to care for the kids, the tax credit system and the right to request p-time work didn't exist 9 years ago when I had eldest with the consequence I've had to go back to the beginning and am struggling to find min-wage jobs. We wouldn't qualify for tax credit childcare help due to hubby's income, my min wage job would go in childcare. The childcare voucher scheme is the only thing that helps. Don't assume a higher tax rate payer means a very wealthy household-it doesn't.