Here’s how the standard parental benefits (12 months maternity leave) and the extended parental benefits (18 months maternity leave) work and which one would make more financial sense for your family. Calculate maternity leave Use the maternity leave calculator to plan your maternity leave dates. We are fortunate in Canada to have access to this 12 or 18 month maternity leave. Or the opportunity cost of missing out on another 6 months of being in the workforce. Statutory holidays – Paid ‘stat’ or public holidays observed in Ontario (or in Canada, at a federal level) (see table below for Ontario public holidays in 2020). It breaks it down to when your maternity benefits will start and when the parental benefits will start and how much it will be. Unless you’re taking maternity leave in Sweden, which pays 80% of your income for the full 18 months. Call our experts for more information. Post that, it is unpaid leave. Statutory additional maternity leave end date calculator. My daycare has all children under 4 in a room together, but some have separate rooms for under 1. *Insurable earnings include most of the different types of compensation from employment, such as wages, tips, bonuses and commissions. 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. It will still not be ideal from a financial standpoint, but it is less expensive for the household budget for sure if you have a generous top-up for parental leave. Due to the coronavirus disease (COVID-19) outbreak, there are changes to this program. I think this second time around, I will opt for the 12 month leave again, but my plan is to look for part-time work when I return, as part of my phased retirement plan. 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. The labour movement pushed for changes to make maternity leave more accessible, not only in legislation, but also by bargaining better paid maternity leave for its members. Maternity Leave Canada 2018 – Credit goes to Canadians Prime Minister Justin Trudeau, Made Promised while a campaign to Increased The Maternity Leave from 12 Month to 18 months in Canada. Tom. 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. Visit the Quebec Parental Insurance Plan for more information. I am planning to work part time when I return so I think it should be okay with 12 months of leave. 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 … Seems like a good trade-off. One parent cannot receive more than weeks of standard parental benefits. 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. Maternity leave mortgages: what are the difficulties? I was sleep deprived and completely irritable and irrational. We can't tell exactly how much you'll receive until your application is processed. Find out if your employer will pay you a salary during the maternity leave. @Shirly- Is the maternity leave fully paid (6 months) paid for by employer or is it subsidized by the government? Learn how your comment data is processed. (If you’re due on a Saturday, you’ll be counting back from your actual due date.) I know that this decision doesn’t work for everyone, especially from a financial standpoint, but I am glad I took a longer leave (I say that now, get back to me in a couple months, ha!). There is an option to take 120 or 150 days of leave: 120 days is paid at 100% and 150 days at 80%. As for our remaining expenses, we are living off the sizeable savings we had put away during my pregnancy. This is good to start a conversation but there are many different aspects. 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. The 12-month maternity leave/ parental leave is also called standard parental benefits. @Helen- Yes, dads or moms can use the parental leave but only one person can use it at one time. My friend’s husband gets a better top up than her, so she will go back to work around 4 months post-baby and he will use the parental leave the rest of the year. If you're taking parental leave and have included this leave with your maternity leave application, please refer to the parental leave timeline. Working days are Monday to Saturday, with the exception of official holidays. For the first six weeks, 90% of an employee’s average weekly earnings. 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. I know that when I went back to work at 12-13 months it was really hard for me both professionally and also as a new mom. How to maximize your Canada Child Benefit, RESP in Canada: The Ultimate Guide on How the RESP Works, financial checklist for new parents in Canada to keep you organized. The 18-month maternity leave/ parental leave is called the extended parental benefits. 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. When your maternity leave starts you will begin to get maternity allowance from Kela. If your baby is born early, your leave starts the day after the birth. 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. To figure out how much you will get over the course of your maternity leave, you need to know your salary. 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. For more accuracy, here is the maternity leave calculator from the Government of Canada. 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.. an agency worker. Visit the Quebec Parental Insurance Plan for more information. This post makes me want to move north. And my other secret is sort of a “CIO” type approach where I heard my baby cry and then I accidentally fell back asleep and then he fell back asleep. Maternity leave can be made up of three types of time off: Compulsory maternity leave (CML) — the two weeks following the birth. Roughly, total income before taxes and other specifics from 2018-2019 would be $85,024 with the 18-month leave. So interesting, thanks for sharing- love hearing what other countries are doing. Best wishes, -Joe. Yeah going back to work for me was pretty stressful but it got better after 3 months. The Maternity Pay Calculator shows your monthly take home pay while on maternity leave. Step-By-Step Guide on How to Invest your TFSA with Questrade, Canadian Investing: Basic Tips on How to Get Started, Investing for Millennials: A How to Guide, The 5 Best Canadian Dividend Stocks to Invest In, Rakuten Canada Review: Get Cash Back on Amazon.ca. So after I did my computer training and worked a shift, I was off for another 2 weeks. @Tom- It’s pretty good, but Sweden is even better! Come move up north! Many Parents believed in Justin Trudeau’s Promise & voted for him, are now planning for their leave. I think 90-100% of pay for 18 months paid for by employer AND $100 a month daycare. If you wait more than 4 weeks after your last day of work to apply, you may lose benefits. If an employee starts parental leave on or after November 18, 2019 the new language will apply , if the leave starts before November 18, 2019 the old language will apply to the entire allowance. At Vancouver City Savings Credit Union, it’s 85 per cent of the employee’s salary for 61 weeks. EI maternity and parental leave in Canada. Enter the date the baby is due. We know that it’s not just about the finances though when you become a parent. How to use this document ? 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. , only parental leave is called the extended parental benefits will start and how to maximize your Canada Child.... Payments too, lol or paternity leave benefits at Autodata Solutions switch 12... 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