Salary Sacrifice
TEDSgroup Childcare Vouchers
TEDSgroup Childcare Vouchers are not operated on a salary sacrifice basis. You get exactly the same level of financial benefit ever week by using TEDSgroup Childcare Vouchers as you do from every other voucher provider, however unlike competitor schemes, the TEDSgroup scheme is NOT a salary sacrifice scheme – it is a 100% approved Government scheme. The monthly amount of vouchers purchased is shown on your payslip as a deduction form your gross pay.
TEDS Premier
In clear English, a salary sacrifice scheme is a scheme which allows you, as an employee, to exchange a part of your salary for something which gives you more benefit (eg TEDS Premier).
There are some common misconceptions about salary sacrifice schemes. Here are the facts:
- Salary sacrifice schemes will ensure that you have MORE money in your pocket at the end of the month – unless you fall in to a category, for example lower paid workers, where a salary sacrifice scheme may not help you
- Accepting a salary sacrifice scheme does NOT mean that your employer will cut your salary permanently.
- If you decide to cancel your involvement in a salary sacrifice, you will be entitled to re negotiate your salary with your employer.
TEDSgroup will calculate your personal savings for you, giving you a very clear picture of whether you are better off with TEDS Premier or TEDSgroup Childcare Vouchers . Lower paid workers may be best asking about The Working Family Tax Credit Scheme and if you are in any doubt about your own personal financial position, ensure that you check first prior to enrolling with TEDSgroup.
