I’m not a dad yet, but life is a fleeting thing, it seems that I just recently graduated from school / university, so it would be nice to see what compensation options we have and honestly, when I first got acquainted, I thought “the devil will break his leg.”
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It's nice that even the father of the family can receive parental benefit in Estonia. True, he receives the right to this compensation after the child turns 70 days old. The amount of compensation is 100% of the average income for 1 calendar month. The calculation is based on the income of the 12 months preceding the average duration of pregnancy (i.e. 9 months). You can calculate its size on my favorite calculator https://www.kalkulaator.ee/et/vanemahuvitise-kalkulaator by specifying all the necessary parameters. You will have to take into account that the maximum amount of parental benefit is three times the average Estonian salary for the year before last (1407 x3 = 4221 today). So if a man-woman receives more than 4221 euros gross, then leaving for parental benefits is less profitable😅
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Parental benefit is paid for 435 days and bank transfers are made on the 8th of each month.
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But, the girls go on maternity leave before the birth begins and how they or their men can receive parental benefits. Therefore, there is another type of benefit - compensation for childbirth. You can go on maternity leave 30-70 days before the expected date of birth and get another good payment.
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The Health Insurance Fund calculates the maternity benefit from the taxable income of the insured person for the previous year. To calculate the maternity benefit, you need to look at the social tax calculated for the previous year at the Tax and Customs Board. An example of calculating the maternity benefit if the girl's salary was 2000 euros gross (respectively, 24000 euros per year)
24000 / 365 - we consider the average income per day = 65,75 euros per day. According to the rules, compensation is paid for 140 days, respectively 65,75 x 140 = 9205 euros. Well, from this amount you need to pay income tax x 80% = 7364 euros.
The Health Insurance Fund will transfer the maternity benefit to the bank account in the amount of 7364 euros. Such a good maternal captal! + 435 more days you can receive 100% of your salary every month.
Learn more about how to properly manage a family budget in this article.