Before you go, check out my recommendations page of financial tools I use to save and invest money. Gather all records of employment from employers over the last 52 weeks as well as your SIN number and banking information. 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. It’s only 12 weeks(about 3 months) here in the US. In order to qualify for Sick Leave, you need a medical certificate signed by your doctor. While you may be earning less monthly with Extended Parental Benefits, there are other important financial factors to take into consideration. 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. Following the initial 15 week maternity leave, either parent or caregiver can claim up to 35 weeks of parental leave at 55% of their earnings (again, up to $562/week). You’ve accepted all cookies. If I could do it again I would absolutely take 18-months, financial impact be damned. So after I did my computer training and worked a shift, I was off for another 2 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. We have a 6 month fully paid maternity leave in India. You can apply for benefits online on. The 12 Month Maternity Leave in Canada. If you’re self employed and you don’t pay into EI benefits, you don’t get access to maternity leave or parental leave. My ‘mom brain’ took a bit of time to wear off. Being Canadian, we are super lucky to be able to take advantage of a paid parental leave program. Oh, Canada. It’s made up of: You do not have to take 52 weeks but you must take 2 weeks’ leave after your baby is born (or 4 weeks if you work in a factory). @Tom- It’s pretty good, but Sweden is even better! Related: RESP in Canada: The Ultimate Guide to How it 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…. A. indicated that childcare costs for an infant in Toronto (typically classified as a child under 2 years old) are an average of $1758, which easily outweighs the difference in earnings between the Standard Parental Benefits and Extended Parental Benefits. I don’t know. Seems like a good trade-off. Don’t worry we won’t send you spam or share your email address with anyone. Does anybody know what the 18 month leave amount is after taxes? One of the biggest costs to factor in when deciding when to go back to work is daycare costs. It’s interesting to read this. While staying home with your new babe is an appealing option for many new parents, there are some important things to consider when weighing the options of whether to take extended parental leave. Because of COVID, the government made some special changes in 2020. 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. Hilary Hoogsteen works in Marketing for a craft brewery and is Mom to a cheerful one-year-old. It’s 6 or 8 depending on delivery. Sign up for the 22,000+ word Young Money Bootcamp eCourse. Daycares often charge more for under 1, and it would also be helpful to know what ages the classes are at. Usually, the earliest you can start your leave is 11 weeks before the expected week of childbirth. I found this to be pretty accurate. As for our remaining expenses, we are living off the sizeable savings we had put away during my pregnancy. I can’t believe it’s 12 weeks in the US, that must be really hard. 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. So let’s say my baby was born in June 2018, and my salary is $75,000 and I intend to go back to work full time after my leave and my top up salary from my employer was for 6 months and it was topped up to around 80% of my salary and there was a top up for the first 2 weeks of the waiting period as well. 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). I think if I were to go back to work full-time, I may opt for the 18 month leave for non-financial reasons (like more time to spend with my baby and more flexibility). 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. So interesting, thanks for sharing- love hearing what other countries are doing. I would say the percentage of moms to be that I know who are planning to take the extended 18-month leave is around 30%. However, after looking into it further, I found out that it is the same amount of employment insurance (EI) money but spread out over 18 months instead of 12 months. That being said, I don’t socialize much lol so my sample size is small and likely, not accurate. It will take only 2 minutes to fill in. usually after 17 weeks for the rest of the time). Statutory Maternity Leave is 52 weeks. In order to qualify for Sick Leave, you need a medical certificate signed by your doctor. 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). This time around I was already PRN (3 shifts in 6 weeks). At 6 weeks a newborn is so vulnerable to so many things, like severe infections etc. Although 18 months sounds like great because it’s more time off, the pay is less. Figuring out what’s best for your family can be overwhelming. Almost 1! It would have been a good option to have a 12 month or 18 month option available, just to be with my baby. My daycare has all children under 4 in a room together, but some have separate rooms for under 1. And in 2020 my income would be $75,000 again. Let’s make the same assumptions as the previous example, with a baby born June 2018 and a salary of $75,000. 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. The extra weeks I believe the above person is referring to is unpaid family medical leave. There are a number of costs associated with starting a family, and adding unnecessary financial stress is undoubtedly something you want to avoid. 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. Yeah going back to work for me was pretty stressful but it got better after 3 months. She loves to take advantage of BC's natural playground and spend time outdoors with her family. For 2020, this maximum amount is $53,100 as well. If you don’t get a top up, the calculation is even more simple- the amount that you receive from EI from the government is the same over 12 months as it is over 18 months. @Shirly- Is the maternity leave fully paid (6 months) paid for by employer or is it subsidized by the government? That would be a total of $52,112. Although it makes more financial sense to just opt for the 12 month leave for most people (e.g. 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. Don’t forget to subscribe for blog updates and a free dividend yield spreadsheet. past four weeks), you risk losing your benefits! Congratulations on your baby!! All content is available under the Open Government Licence v3.0, except where otherwise stated, National restrictions in England until 2 December, Holidays, time off, sick leave, maternity and paternity leave, Coronavirus (COVID-19): guidance and support, Transparency and freedom of information releases, Ordinary Maternity Leave - first 26 weeks, Additional Maternity Leave - last 26 weeks, the day after the birth if the baby is early, automatically if you’re off work for a pregnancy-related illness in the 4 weeks before the week (Sunday to Saturday) that your baby is due.