US EditionParental leave and pension contributions: are you getting it right?
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The birth of a child means not only a major life change in the life of parents, but also the entry into the social security system, which guarantees them income protection during the childcare period. Maternity and parental leave are two separate phases of this care, each with its own rules, the amount of benefits and, consequently, the impact on pension provision. This article is for subscribers only.You have 88% left to read.
Parental leave and pension contributions: are you getting it right?
A topic that has featured in the news recently is pension payments for parents on maternity or paternity leave, specifically where employers have failed to pay the correct level of pension contributions during that period. At Lambert Chapman, this is something we manage on a monthly basis and it’s vital that contributions are calculated correctly. As many will know, Statutory Maternity Pay (SMP), unless enhanced by your employer, is paid as fol…
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