Childcare driving early retirement for many

One in four grandparents are retiring early to help their children with childcare, according to a new survey.

The survey of over 1,000 parents by flexible childcare app Bubble found one in four (23%) grandparents have had to retire early to help with childcare while more than one in 10 grandparents (13%) have dipped into their savings and pension pot to help support their children with childcare costs.

It says a lack of affordable, flexible childcare means parents around the country are patching together a combination of friends and family as babysitters (47%), using tablets to keep kids distracted (17%) or paying for additional support such as a babysitter (13%) to try and keep on top of the work that falls outside of traditional childcare hours.

Sixty eight per cent claim they have had to turn down extra work or not apply for a particular job which might lead to more money – because of childcare issues. Sixty seven per cent – and 77 per cent of part-time workers – have thought about leaving their job as a result.

Eighty-three per cent of parents say they need more flexible childcare and 85% of them would be more likely to use the Government’s tax-free childcare benefit if it could be spent on a broader range of providers.

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