As the name suggests, all new mothers must take this period of leave. Statutory maternity pay rates. Hand in your letter ASAP: It’s advisable to hand in your maternity leave letter as soon as you have the all-clear from your midwife that you’re in your pregnancy’s safe period (this is usually after three months have passed). Related:  A Tale of 4 Maternity Leaves:  Comparison Between 4 Countries. When you took the 14.5 months off and returned to work, what about the remaining EI payments, I assume they stop? I was sleep deprived and completely irritable and irrational. This letter memorializes a request for parental leave off to an employer. It’s interesting to read this. In 2018, I would get $37,500 for the first half of the year, and $30,000 for the second half of the year, for a total of $67,500 in annual income. an employee. Especially because my son is still not sleeping through the night – please let me know your secrets, haha! I would find it difficult to not see my 3-6 month old during the day- that is like the absolute cutest time. When your maternity leave starts you will begin to get maternity allowance from Kela. If you were employed for a period between 40 weeks and 12 months, the calculation is based on such a shorter period. I agree with you that the 12 month option sounds better than the 18 month option. Call our experts for more information. @Helen- Yes, dads or moms can use the parental leave but only one person can use it at one time. You get more time but less money, the money is stretched/rolled out out like pizza dough , So many factors to consider and you can choose anywhere form 12-18 months. Using the government website for estimate and if I were starting my maternity leave next week, if I were making $75,000 annually, my estimated leave amount with extended leave (18 months) is: Your maternity benefits: are estimated at $562 a week will end after 15 weeks, around Saturday, February 15, 2020 Your extended parental benefits: will begin around Sunday, February 16, 2020, after your 15 weeks of maternity benefits end are estimated at $337 a week will end after 61 weeks, around Saturday, April 17, 2021, If you took standard parental benefits instead of extended parental benefits, Your standard parental benefits would: begin around Sunday, February 16, 2020, after your 15 weeks of maternity benefits end be estimated at $562 a week. I extended mat leave by a month, since my employer allows that ( not everyone does). Daycares often charge more for under 1, and it would also be helpful to know what ages the classes are at. The maximum EI payment is around $2000 a month. Depending on your employer benefits or even whether you are self-employed, you have to budget for your maternity leave unless you’re lucky enough to be taking maternity leave in Sweden, which pays 80% of your income for the full 18 months. There is an option to take 120 or 150 days of leave: 120 days is paid at 100% and 150 days at 80%. Since you're likely to have a reduced income while you're on leave, especially if you're only receiving statutory maternity pay (SMP), one of the biggest worries can be passing lenders' affordability checks.. For extended parental benefits, you'll receive at least $300 per week before taxes but you could receive more, if you received the CERB, the 52-week period to accumulate insured hours will be extended, We add your insurable weekly earnings from your best weeks based on information provided by you and your Record of Employment, We divide that amount by the number of best weeks based on where you live, We then multiply the result by 55% for maternity and standard parental benefits or by 33% for extended parental benefits, your annual net family income is $25,921 or less, you or your spouse receive the Canada Child Benefit. Apply as soon as possible after you stop working. Most definitely the 12 weeks! The amount you receive depends on your insurable earnings* before taxes in the past 52 weeks or since the start of your last claim, whichever is shorter. My daycare has all children under 4 in a room together, but some have separate rooms for under 1. Even if you get a top up from your employer (which may replace up to 70-85 or even 90% of your gross pay) for a few months, you will still have to budget for the remaining year which will only be funded by EI payments. It can work out Statutory Maternity Pay (SMP), Enhanced Maternity Pay or Maternity Allowance and provides a monthly net pay amount after deducting your tax, national insurance, pension … Sign up for the 22,000+ word Young Money Bootcamp eCourse. Oh, Canada. I can’t believe it’s 12 weeks in the US, that must be really hard. This is called a top-up. It breaks it down to when your maternity benefits will start and when the parental benefits will start and how much it will be. Your employer: In general, employers do not have to pay women who are on maternity leave. After my son turned 1 year old, I think I was ready to go back to work and have a change in routine other than nap, eat, play, and repeat. Any little bit counts, if you live in British Columbia, don’t forget to apply for the BCTESG when your child turns 6 to get $1200 money with no catch (you don’t have to deposit money yourself). It’s great that y’all can get 12 months or even 18 months of parental leave. Social welfare: You may be able to get Maternity Benefit from the Department of Social Protection (DEASP) if you have enough PRSI contributions. There are a number of people who I know that work in the private sector who get a full year’s top up! The daily rate of maternity leave pay is calculated at 80% of your average daily wages earned in the 12-month period leading up to the first day of your maternity leave. The number of best weeks we use is based on the unemployment rate where you live. One parent cannot receive more than weeks of standard parental benefits. We know that it’s not just about the finances though when you become a parent. For enquiries, contact us. Maternity leave can be made up of three types of time off: Compulsory maternity leave (CML) — the two weeks following the birth. What helps is that my husband has a good job and that our monthly mortgage payments are very manageable and my EI benefit payments almost cover it. Maternity Leave Date Calculator This is a Simple date calculator for calculation of the last date of maternity leave and joining date after availing the leave. How long do they get for the paternal leave? The extra weeks I believe the above person is referring to is unpaid family medical leave. I’d feel like a new nurse when I return. What about dads? Before you go, check out my recommendations page of financial tools I use to save and invest money. After the 15-week maternity leave is finished, the parental leave kicks on and this can be either 35 weeks (12 months) or 61 weeks (18 months). Lol. In 2018, I would get $37,500 for the first half of the year, and $30,000 for the second half of the year for a total of $67,500 in annual income  Then in 2019, I would just get EI payments and this would be for the whole of 2019, which would be $17,524. The extended parental benefits pay out 33% of your average weekly insurable earnings, up to the same maximum amount, for a maximum duration of 61 weeks. Instead of going back to work after 12-months I’m ok with taking off 18-months now and then working an extra 6-months before I eventually retire. The 12-month maternity leave/ parental leave is also called standard parental benefits. However, if you have a generous benefits package, like for example if you work for the federal government (who get 90+% top up for 12 months for their leave, from what I have heard from people I know who work in the federal government), it may not be as financially difficult to extend another 6 months for a total of 18 months with solely EI payments since 12 months is topped up. (required) At Vancouver City Savings Credit Union, it’s 85 per cent of the employee’s salary for 61 weeks. I had a summer baby, the end of July. At Desjardins, a top up for mothers replaces as much as 95 per cent of their salary for 18 weeks; for fathers, it’s 95 per cent for 12 weeks. If you took parental benefits instead of parental benefits. Can you switch from 12 to 18 months maternity leave? There is also the consideration that most women take a few weeks off before they give birth. ), if you’re still feeding your baby at night (not sure if you feed overnight) stop. When does the employee want to start her maternity leave? The 18-month maternity leave/ parental leave is called the extended parental benefits. @Heather- There’s been a lot more people that i know taking the 18 month leave than I thought. So interesting, thanks for sharing- love hearing what other countries are doing. Almost 1! Calculate maternity leave Use the maternity leave calculator to plan your maternity leave dates. The INTO has developed a Maternity Leave Calculator (Excel) to assist members working out the dates of their maternity leave. This is what the maternity leave calculator looks like- you just input the numbers: I ran the numbers for an arbitrary due date and on a salary of $75,000 annually. In 2020, the maximum amount is $344 a week. As long as I can make it work financially, even if I just squeak by, I would do it. The basic rate used to calculate maternity and standard parental benefits is 55% of average insurable weekly earnings, up to a maximum amount. It's based on the information you entered above. When did the 18 month maternity leave start? Eversheds Sutherland has created this user-friendly calculator to make it easy for you to find out key dates in relation to maternity and paternity rights, as specified by UK legislation. On the last day of work you can start to apply for EI maternity and parental benefits. You’re barely recovered from the trauma of birth at 6 weeks too…. Here’s the government website to apply for your EI maternity and parental leave in Canada. Best wishes, -Joe. Good point about summer- especially with school age children- I went back I think when my son was around 13-14 months too and it felt a bit early as he wasn’t walking yet. The number of weeks of benefits you get depends on the benefit type you choose. Related: RESP in Canada: The Ultimate Guide on How the RESP Works, To recap, if I were making $75,000 annually prior to going on maternity and parental leave in Canada, and I were wondering how much you would get from EI every week for 12 months vs 18 months maternity leave…. For a 12 month leave, employment insurance will pay you 55 per cent of your average insurable weekly earnings if you qualify. Use this quick and simple calculator to work out your staff’s Statutory Maternity Pay entitlements. However, the confounding factors are access to childcare (and how much it is and how soon you can access it) and whether both parents can take parental leave at the same time (the answer is no but it can be shared). To qualify, you’ll have had to work 600 insurable hours and also be hit with a 40% decrease in income during your leave. To figure out how much you will get over the course of your maternity leave, you need to know your salary. In addition to these, either parent can take parental leave (vanhempainvapaa). Maternity Pay Calculator. Leave amount for permanent female state Govt employees is 180 days. Apply for the maternity leave at the latest two months before the ex… And they didn’t stop at just maternity leave. If your baby is born early, your leave starts the day after the birth. We call these your best weeks. Anyway I’ll get off my soap box now! When do you need to inform your employer about your pregnancy? Or the opportunity cost of missing out on another 6 months of being in the workforce. You can only start receiving parental benefits on or after your child's date of birth or the date your child is placed with you for the purpose of adoption. Because you indicated you want to share parental benefits, up to weeks are available for other parents, for a total of weeks of parental benefits. Maternity leave in Canada. Nobody should have to go back to work and stick a 6 week old in daycare, @Eh- I know I can’t imagine I have heard of people using sick time to add to the 6-8 weeks. Notify me of follow-up comments by email. Important notice: If your child was born or placed with you for the purpose of adoption on or after March 17, 2019, and you share Employment Insurance parental benefits with another parent, you may be eligible for:. Hi GYM, it’s really nice to have the options. I wish you did a comparison for those of us who do not receive a “top up.” The only people I have met with that option is teachers, nurses and government officials. Visit your local TD Canada Trust branch (opens new window) or call 1-866-222-3456 to discuss your options. Okay here’s my secret (but I am currently going through the 18 month sleep regression- yes that’s a thing! You can work out your maternity pay and leave online. Here’s what the maternity leave Canada calculator says: For the 12 month leave, at around $562 each week over 35 weeks, that works out to be $19,670 in total received as a benefit. Enter the date the baby is due. Visit the Quebec Parental Insurance Plan for more information. Still, the Option is Nice for Maternity Leave in Canada, A Tale of 4 Maternity Leaves:  Comparison Between 4 Countries, employment insurance will pay you 55 per cent of your average insurable weekly earnings, baby expenses can be very costly in the first year. GYM is a 30 something millennial interested in achieving financial freedom through disciplined saving, dividend and ETF investing, and living a minimalist lifestyle. Portugal There is no maternity or paternity leave, only parental leave. Related: How to maximize your Canada Child Benefit. @Kris- Thanks for your suggestion! Of course, there are lots of free baby stuff in Canada that you can sign up for to decrease the cost. First off, I’m still amazed that they give 12 months up north for maternity leave. I remember during my one year of maternity leave, I was so exhausted as my baby wasn’t sleeping through the night until around 6 months. Yes you do get taxed and there is a cap. Which one made more financial or family sense for you? Your total weekly amount cannot exceed $573. Can they get 6 or 12 months? It’s 6 or 8 depending on delivery. Mothers receive a maternity grant when they are pregnant either in the form of a maternity package or as a tax-free lump sum of EUR 170. Does 12 months or 18 months leave Make More Financial Sense? Unless you’re taking maternity leave in Sweden, which pays 80% of your income for the full 18 months. The earliest your paid maternity leave can start is the 11th week before your baby is due. (Your normal weekly earnings must have been reduced by more than 40 percent and you need to have accumulated at least 600 hours of insurable employment … However, if I could get a year I would definitely take it. blog updates and a free dividend yield spreadsheet. We have a 6 month fully paid maternity leave in India. We can't tell exactly how much you'll receive until your application is processed. This is roughly $1348 a month (this is before taxes are deducted). If you wait too long (e.g. Canadian Moms and Dads, did you pick the 12 month or the 18 month leave? Maternity benefits (the first 15 weeks) can only be taken by the mother and parental leave benefits (the 35 weeks or 61 weeks) can be taken by either parent. It is also different for those who own their own small businesses. How Do You Apply for maternity Leave in Canada? It’s enough worrying about whether to do a 12 month or 18 month leave, but once your child is born there is a whole lot of other stuff to sign up for. You can get back and get on with your life. UK maternity and paternity leave calculator. The Canada Revenue Agency determines what types of earnings are insurable. @Shirly- Is the maternity leave fully paid (6 months) paid for by employer or is it subsidized by the government? You don’t have to take the 52 weeks you’re entitled to, but you must take at least two weeks off work following the birth of your baby. EI payments will be paid for 15 weeks for maternity leave and 35 weeks for parental leave (which can be shared between the parents). We do pay into these benefits though. TD Canada Trust has a handy Parental Leave Calculator on their site so you can estimate how much you will receive. I think if I were going back full time I would definitely take the 18 months. Some employers provide additional money to employees on maternity or parental leave. Like you said unless your company covers most of the remaining pay when you’re on leave, you should for the 12 month leave. In summary, the 12 vs 18 month parental leave is pretty much the same benefit but stretched out over a longer period of time for the 18 month leave. Visit the Quebec Parental Insurance Plan for more information. Parental leave is available following the 17 weeks of maternity leave and extends time off of up to 52 weeks if standard parental leave is selected, or up to 78 weeks if extended parental leave is selected. Running the numbers with the above scenario, it makes more financial sense to opt for the 12-month leave. Contact us Diane Gilhooley, Partner. Also, keep in mind that if you don’t return to work after your maternity or parental leave, you may be on the hook to pay back your top up for your maternity or parental leave from your employer. That being said, I don’t socialize much lol so my sample size is small and likely, not accurate. @Owen- Good point. Check with your employer to find out if they offer a top-up. 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