What happens if I am currently on the waiting list for the existing scheme and have a child on the existing scheme?
If you have a child on the existing Scheme and you are on the waiting list for an additional place for a sibling, you may retain your place under the current terms and conditions until this child/ren leaves the nursery or alternatively, you may transfer to the new Scheme. For the new additional place, if the nursery is one of the new HSBC designated nurseries available from October 2005, then you may apply for a place direct with the nursery and take advantage of a discounted rate, if offered. Through a salary sacrifice agreement, you will also benefit from the tax and NI exemption on 100% of the funds sacrificed. Alternatively, if the nursery is not a HSBC designated nursery within the new Scheme, from the 1st October 2005, you may apply for childcarevouchers, again through a salary sacrifice agreement and benefit from the tax and NI savings on the first £55 spent on childcare per employee per week. Applications to join the new Scheme may be submitted after 1 July 2005.
