Virtual
vouchers
Please call us at Mace for more info or simply
log on to
http://www.virtual-vouchers.com/index_content.html
virtualvouchers are flexible, easy to set up
and simple to operate. virtualvouchers administer
the scheme, therefore there is minimal administration
for both employees and employers.
virtualvouchers can be used to pay a nursery,
childminder, nanny, after-school clubs, holiday
playschemes and in some cases family members.
virtualvouchers can be used:
• as a subsidy given by the employer
• as part of a flexible benefits package
• in conjunction with a Salary Sacrifice
scheme
Subsidy it's simple...
• Employee organises completion of agreement
form
• virtualvouchers raises invoice to company
listing employees virtualvouchers
values and sends to company on agreed date in
month
• Employer remits the agreed amount to
virtualvouchers by BACS
•For regular monthly payments your childcarer
will be paid by BACS transfer into their bank
account at the beginning of the month for which
the fees are due.
Benefits it's flexible...
• Part of a flexible benefits scheme
• Employee selects varying value virtualvouchers
on a monthly basis
• virtualvouchers invoices employer
• Employer remits the agreed amount to
virtualvouchers by BACS
• virtualvouchers pays carer by BACS at
the beginning of the month for which the fees
are due
Salary Sacrifice it's no cost...
• Employee and employer agree virtualvouchers
amount and simple change of contract
• Employee's salary is reduced matching
voucher value
• Employer recovers nominated amount by
reduction in employee's salary
It's flexible...Childcare needs can be variable.virtualvouchers
builds flexibility into a Salary Sacrifice scheme.
• Salary Sacrifice requires same reduction
each month
• Employee estimates annual cost of childcare
• virtualvouchers estimates monthly average
• Employee's monthly vouchers are "banked"
• virtualvouchers manage the employee's
account
• Employee instructs virtualvouchers to
pay carer when required.
• Up to maximum amount in employee's account
can be paid
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