Wednesday, October 15, 2014

Maternity Leave Benefits

With the baby coming, it’s no surprise it’s a topic of conversation for a lot of our friends.  It surprised me how many people have misconceptions about what kind of EI benefits they will be receiving.  Most people think it 55% of your income.  However, did not realize that there is a maximum.

So no.  If you make $100,000 a year, it does not mean you get $55,000 during maternity.  It’s quite a bit less and you need to plan for that.

The amount is reviewed and changed each year.  But as of right now, the latest information I see on the Service Canada website is that the maximum weekly benefit $514.  This means if you yearly income is $48,600 or below you receive 55% of your average insurable weekly earnings.  But if your income is greater than that there is no more from EI benefits.  You may receive a top up from your company, which you will need to look into eligibility and rules with your HR.

My company provides a top up to 70% of my income for the first 20 weeks.  It’s part of my benefits plan which I am responsible for paying the premiums for.  Also, if I don’t work a full 6 months after maternity, I have to return the top up.  I expect to be coming back, however, to be safe Beau and I are planning on saving the Top Up portion, invest it in something safe.  After 6 months of being back at the job, we will put it towards to investment for baby. 

Sunday, October 12, 2014

Happy Thanksgiving weekend!

Happy Thanksgiving Weekend everyone!

I am suffering a little insomnia, but at least it gives me plenty of time to prepare stuff for the three Thanksgiving dinners this weekend.  Thankful for lovely friends and family, and Beau and baby this year.

Friday, October 10, 2014

Some Me Time

It was a hard decision and there was a lot of flip flopping, but Beau and I both agreed that I go on maternity 6 weeks before my due date.

That may not seem like a big decision to many but for someone like me it is.  Because first I'm not good with being idle.  Second, taking maternity early means going back to work early equals less time with baby.  Third, that is 6 weeks of getting a full time pay check I'd be giving up.

But given my work load and the stress at work, we thought it would be best for baby and me to take some mommy time.  Example of how crazy it is at work, I'm a week away from leaving and I've just been given 2 new top priority projects on top of my ongoing projects.  We are getting 3 new hires to replace me, and only one of them started this week.  Another one will start next week.  The third one my boss is writing an offer for so I won't even be here when he starts.  I had to schedule water breaks so I don't get dehydrated (cause of my 3 last kidney stone attacks - kind of a funny story which I'd like to blog about when I have the free time :)

Also, I don't intend to be sitting around doing nothing during this mommy time.  First thing I will do (after I catch up on sleeping) is to plan my days and some projects.  Stay tuned