Is it worth my wife going back to work for 3 months after maternity leave?

snowbean

Sorry to barge in on OP's thread, but am I understanding correctly, that if a company is only paying smp, then there is no risk of losing out / having to pay back money if you choose not to return to work?

Is it only something which relates to specific employers and their enhanced packages?

LittleMoog

snowbean wrote: »

Sorry to barge in on OP's thread, but am I understanding correctly, that if a company is only paying smp, then there is no risk of losing out / having to pay back money if you choose not to return to work?

Is it only something which relates to specific employers and their enhanced packages?

yes, that is correct. SMP would not have to be repaid. My company states that EMP is aimed at encouraging you to return to work, if you don't return, or leave before 6 months, the EMP less SMP amount would have to be repaid in full.

sweaty_betty

Hi there - something I'm not sure has been mentioned here (sorry if it has and I've missed it) is that if the amount of holiday you've accrued while off (up to 1 years worth) is the same/greater than the time you need to return for to keep your enhanced maternity pay, you may not need to return.

For example, my company gives XX amount of full pay (more than SMP), but I only need to return for one month to avoid having to pay anything back. If I had one months worth of holiday, I could hand in my notice before returning, receive a months worth of full salary during my notice period, then not return.

snowbean

Thanks littlemoog, that's what I thought. So apart from obviously losing my wage, there'd be no other financial loss for me if I didn't go back?

LittleMoog

snowbean wrote: »

Thanks littlemoog, that's what I thought. So apart from obviously losing my wage, there'd be no other financial loss for me if I didn't go back?

not as far as I'm aware

tea_lover

Hi snowbean - it's the same at my company as well, if that helps. We have to go back for 6 months after maternity leave to keep the difference between the SMP and EMP.

BaconandEggs

OK - thanks - so it looks like it might be 3 month - any accrued holiday.

Will sit down tonight and calculate the exact figures.

Thanks for the suggestion about a child minder. Will discuss this with OH and see what she thinks. I personally like the idea more than sending to nursery.

jackomdj

My sister ended up working for 2 days due to her holiday!

Re nurseries if it's a hospital your oh works then they may haveone on site that is part funded.

BaconandEggs

Managed to work this out now:
The difference between going back to work and not going back to work, taking all the factors listed in the original post is:
£3149 if going back 3 days a week
£3033 if going back for 2 days a week
£2917 if going back 1 day a week.

Tish_P

Baconandeggs's numbers are useful but remember it's not just about current income. There's future income and pension contributions to be considered as well, plus the added security of having two wage earners in case of redundancy etc. Of course your choice will depend on how much each of these considerations matters to you as a family.