Anyone with children knows that childcare is a major expense that comes in many forms, from day nursery for small pre-school children and babies, after-school clubs and child minders, to school holiday cover for working parents. Care requirements span many years and often eat a good chunk out of a family’s income.

Faced with exorbitant childcare bills, it’s no surprise that many parents are turning to their own parents for assistance. Research5 has revealed that a massive 85% of grandparents offer some kind of support with childcare. UK grandparents spend an average of eight hours a week caring for their grandchildren, saving families an astounding £22bn every year, which works out at an average of £4,027 per family.

5SunLife, 2019

It is important to take professional advice before making any decision relating to your personal finances. Information within this page is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed. It does not provide individual tailored investment advice and is for guidance only. Some rules may vary in different parts of the UK.

Tax and Estate planning are not regulated by the Financial Conduct Authority

The value of pensions and investments can fall as well as rise. You may get back less than you invested.

Will writing is not regulated by the Financial Conduct Authority. 

cafs logo

Fill in the form below and one of our experts will be back to you within 24 hours.