Adult Financial Literacy Guide | Page 11

Parental Benefits Your employer is required to grant you a certain number of weeks of maternity, parental or adoption leave, but they are not required to pay you during that time. Here are some questions you may want to ask your employer: Will I receive a top-up? Some employers will offer a “top-up” benefit, which pays a portion of your regular salary in addition to your Employment Insurance (EI) for a specific period of time. How much leave am I eligible for? Check your employee benefits and find out what your employer’s policies are about paid and unpaid leaves and vacation time. What are my health and dental benefits while on leave? If your employer provides health and dental benefits, check to see if you still have coverage while on leave. If not, and you want to keep them, remember to include the premiums in your budget and ask your employer how you can continue to get benefits while you’re on leave. Questions to ask your employer about maternity or parental leave Photo credit Bill Selak via Visual Hunt CC BY-ND How much income tax will be withheld? If you receive a top-up from your employer, make sure there’s enough tax being withheld; otherwise you may end up with an unexpected tax bill when you file your income tax return at the end of the year. Did you know? If your newborn or newly adopted child is hospitalized, the 35-week parental benefit timeframe can be extended by the number of weeks your child is in the hospital. You can apply for EI maternity benefits before you give birth. In fact, you can start receiving benefits during the eighth week before the actual week you give birth. 11