By Brenda Spiering
Preparing for the arrival of a newborn is magical, but it can also be taxing financially. Understanding the basics of maternity benefits can help.
Preparing for the arrival of a newborn is a magical moment. But it can also be financially taxing. So among all the things to plan for when your cherub comes, you need to figure out how long you can afford to be away from work.
The excellent news, maternity benefits have come a long way since the first (limited) benefits were introduced, thanks to Canada’s Unemployment Insurance Act in 1971, and the changes announced in 2017 make them even more enjoyable.
Today, maternity and parental benefits are part of the federal government’s employment insurance program and apply in all provinces except Quebec (which has its program). However, eligibility for maternity or parental leave and the duration is governed by each province’s labor codes and human rights standards, which may vary slightly. Therefore, be sure to check what the rules are in your area.
To help you know what you are entitled to, here are five essential things to know:
