Whether or not one gets an employer top up can be an important factor in determining who takes parental leave. For example, if your spouse can use top ups to increase their benefit rate to 80 per cent, it may be best if they use most of the 35 weeks.
For many parents, the nine months leading up to a baby’s arrival is a wild ride, and not just emotionally and physically. Many people forget that their financial picture can change dramatically as well.
Amber Tomlinson had no idea how maternity leave would impact her bank account when she became pregnant five years ago. But rather than wait until the last minute to find out, she spent a few days in her first trimester searching leave benefits online. She also pulled out her work contract to see if her employer was going to top those benefits up.
Fortunately, between employment insurance and work, about 80 per cent of her salary would be covered while she was away. “That’s still a cut, but it wasn’t the financial burden it could have been,” she says. “Plus, being home meant I could save on suits, parking and lunches.”
If you’re about to take maternity or parental leave, here’s what you need to know about how much you’re going to receive.