Critical were pleased to work again with SunLife on a second wave of their Grandparents research.
In July 2024, we ran an online survey amongst 2,033 grandparents with grandchildren aged under 18 and living in the UK.
With the school holidays being a difficult time for many working parents to find childcare, we found that grandparents are spending more of their time looking after their grandchildren in the school holidays, and they are being relied upon more to provide this childcare.
Using the average cost of a nanny per hour according to PayScale, and the results of our survey, SunLife have worked out that in total grandparents are saving families in the UK £18bn in holiday childcare costs every year.
If grandparents were paid for all the hours they do, how much would they earn?
SunLife have created a ‘Grandparent Salary calculator’ that includes the average pay for the many roles grandparents are taking on so grandparents can calculate their ‘grandparent salary’ and parents can see just how much they are saving on childcare costs.
And there are benefits for grandparents too – the majority told us they are more than happy to help as they get to spend time with their grandchildren and don’t mind spending their own money doing so.
Find the SunLife article here.
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