Only two out of every hundred working parents have signed up for childcare vouchers – the millions that are missing out say they just can’t be bothered to claim them.
Most parents who pay for childcare are entitled to childcare vouchers. The savings on offer equates to up to £1,195 a year. If both parents work this soars to £2,400 a year.
The research, carried out by childcare voucher specialist Childcare Choice, reveals that most parents who pay for childcare and have access to a childcare scheme at work haven’t signed up to the scheme because they either believe that applying for the savings would cause them too much hassle or they think they do not have time to apply.
Many admitted they were confused as to how much they could save, with a quarter believing the vouchers would save them less than £500 a year.
Iain McMath, managing director of Childcare Choice, said: “It takes just fifteen minutes to apply for childcare vouchers online – time well spent when you could be saving a significant amount of money.”