Top 10 cheapest places parents pay for nursery costs in Scotland - and most expensive
New research by pension provider, Penfold, shows that the average cost of childcare for under-twos in Scotland could hit £58.60 a day and £1,165.95 per month by April 2023. Although this is still lower than the UK average there are growing concerns about the impact the increase could have on parents as nursery fees continue to rise.
Based on these figures, the average cost of full-time nursery care for under-twos of £1,106.52 per month takes 42 per cent of the average wage in Scotland, suggesting that childcare costs can be a significant financial burden for many families. Impact on future savings For a 30-year-old, £357 per month needs to be saved, or £4284 per year to save enough for retirement, according to Penfold.
He continued: “The biggest contributor to the gender pension gap is that women spend more time than men outside of paid employment doing unpaid caring, for example looking after young children or taking care of elderly relatives.
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