A new announcement was made on Dec 3, 2017 regarding changes to the Maternity and Parental leave in Canada. Read the official website carefully: https://www.canada.ca/en/employment-social-development/programs/ei/ei-list/reports/maternity-parental.html#h2.1
I'll be updating this post as I go through submitting and processing EI for maternity and parental leave. Hoping this information will help others who are also on the same boat.
- Eligibility (accumulated 600 insurable hours, you have paid premiums, etc).
- Choice of 12 month (standard) vs 18 month (extended) of insurable income to a max amount.
- Benefit rate of 55% of insurable income for standard vs. 33% for extended to a max amount
- Maximum insurable income amount of $51,300 or expect to receive $543/week (12 month leave) or $326/week (18 month leave) gross.
- EI is a taxable benefit. Provincial and federal tax rates applicable.
- Bi-weekly payment; paid on Tuesdays.
- Financial picture: what would it be like to go from 100% to 55% to 33%?
The process that I am following is what my spouse and I agreed are best for our situation. It may be different for you. Generally...
- Research your work benefit thoroughly for top up benefit during parental leave, if available.
- Advise your managers of your anticipated leave. Provide an overview of your current work in place, and give them a plan or recommendation of someone to take over your position for the leave, if possible. Here are my tips on this post.
- Apply for maternity leave before expected due date (3 months).
- Share parental leave with spouse