Parents at the Institute of Physics are saving on the cost of their childcare, thanks to their employer offering a family-friendly initiative.

By exchanging part of their salaries for tax and National Insurance exempt Childcare Vouchers, parents working for the Institute are able to save up to £1,196 a year (subject to individual circumstances) on the cost of their childcare.

One parent who requests Childcare Vouchers is Charles Tracy, a Programme Manager for the Stimulating Physics project.

Charles first joined the Busy Bees scheme in July 2005, when he was working for the Local Authority in Hertfordshire. He was attracted by the potential savings he could achieve by requesting Childcare Vouchers.

When he moved to his current position, he was able to continue requesting Vouchers as the Institute also run the Busy Bees scheme.

"The decision to join the Busy Bees scheme was easy – it saves me money" said Charles. "When I moved jobs from Hertfordshire to the Institute, it was great to know that I could still benefit from Childcare Vouchers.

"Using the Vouchers to pay for childcare makes things much easier for us and for our nursery. The cost is taken out of my salary before tax and I get sent a voucher. I simply hand over the Voucher to the nursery and they cash it in with Busy Bees to get their fee.

"I would definitely encourage other parents to join the Busy Bees scheme as it saves money."

To see how much you could save with Busy Bees Childcare Vouchers, call freephone 08000 430 860.