The scheme is closed to new enrolments since 1 September 2018. It has been replaced by the government childcare voucher initiative. All employees with children age 15 or younger (age 16 or younger, if they are registered as disabled) are eligible to participate in the government programme.
The childcare voucher programme through Co-operative Flexible Benefits continues if you were a member of the plan before 31 August 2018.
Childcare vouchers can be used to pay for the care of any child for whom you have parental responsibility, up to the first September after his or her 15th birthday (or 16th birthday, if the child is disabled). This does not require that the child live with you.
How do I join or modify my childcare vouchers?
You may select this benefit if you were a member of the plan before 31 August 2018. After this date, only the government childcare initiative is available to new members. Current childcare vouchers scheme members will be able to continue with this scheme.
You can modify your contributions via My Adobe Benefits.
- Go to Benefits Selection > Childcare Vouchers > Edit.
- Choose the preferred contribution level.
- Click Add to cart > Checkout > Confirm selection.
A confirmation message should pop up if you’ve successfully submitted your selections. This will be sent to Payroll and the provider on a monthly basis.
Visit the Co-operative website (account number 85002044) to sign up for the plan and then to make monthly payments to your selected provider.
Childcare vouchers FAQs
The below FAQs are applicable to the closed Adobe childcare vouchers scheme.
Why participate in the plan?
By participating in the plan, you will not pay tax or employee National Insurance Contributions on the value of childcare vouchers you opt for, up to the maximum of £243 per month. The benefit is per taxpayer, so if you and your spouse or partner are both members of childcare voucher schemes, you could double your savings!
The value of vouchers you are entitled to claim will depend on your earnings. Your employer is required to carry out a basic earnings assessment to determine the value of vouchers to which you are entitled; that voucher entitlement will then apply for the whole of that tax year. £243 per month is the maximum available. Limits apply at various income thresholds.
What is salary sacrifice?
Adobe operates the childcare voucher scheme as a salary sacrifice arrangement, whereby you agree (through a change to your contractual terms) to a reduction in your salary in return for the equivalent value of childcare vouchers.
Statutory payments are calculated on actual salary, so if you opt for a reduced salary in return for an equivalent value of childcare vouchers, any statutory payments will be calculated on the reduced salary figure. You should, therefore, take this into consideration when deciding whether childcare vouchers are the best option for you. Contact the Tax Credits Helpline on 0845 300 3900 if you have additional questions.
How does my childcare provider get paid?
To pay your childcare provider, you need to log in to your Co-operative account, select the provider you need to pay, and enter the required amount. The Co-operative initiates the payment to your childcare provider on the same day. This transaction takes 2–3 days, and remittance advice notes are emailed to your provider on the day that the transaction is processed.
Can my spouse or partner also join the scheme and make savings?
All employees and any family members living in the employee’s household are eligible.
What is qualifying childcare?
You may only use childcare vouchers with providers that are registered and approved by Sure Start and Ofsted. Most common forms of childcare, like nurseries, childminders, out of school clubs, and holiday play schemes would normally qualify. Some nannies are registered and approved too. Visit hmrc.gov for details (including the full HMRC definition).