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Can I transfer my child/ren from the existing scheme to the new scheme?

April 26, 2017child existing ren Scheme transfer

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Can I transfer my child/ren from the existing scheme to the new scheme?

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If you are in the existing Scheme you may choose to apply to join the new Scheme from 1 July 2005 (for a 1 October start) and transfer your child/ren to a HSBC designated nursery that is part of the new Scheme. You may wish to do this if for example, the subsidy level in the existing Scheme is lower than the savings you will make through the new salary sacrifice Scheme. In the new Scheme, the first salary reduction will take place in your October 2005 pay for payment of childcare from 1 November 2005 onwards, as payment under this Scheme will always be in advance. You will need to ensure you secure the place with the new nursery before applying for the new Scheme. Please liaise with the HSBC Childcare Team and advise them of your intentions.