Chelsea Heney, a Vancouver mom, decided to have her first baby at the age of 40 last year. Financial preparedness was a major factor in her decision to delay motherhood, along with concerns about relationships, health, and career. While becoming a mother to her son Olivier has been fulfilling, Heney has faced financial challenges, especially after being laid off during her maternity leave. She has filed a human rights complaint against her company and highlights the lack of protections for working women returning from maternity leave. Many Canadians have also delayed parenthood due to financial concerns, as revealed in a recent Angus Reid survey.
The survey found that more than half of potential parents have put off having children longer than they would have liked, primarily due to rising living costs and financial worries. Factors like concerns about the job market, availability and cost of childcare, the housing market, and the ability to balance work and children are also influencing decisions about parenthood. It is particularly difficult for women who have invested in their careers and education to navigate these challenges while wanting to have children. Some potential parents also cite timing issues or not finding the right partner yet as reasons for delaying parenthood.
Statistics Canada recently reported a record low fertility rate in Canada, with more families delaying having children amidst economic and societal shocks triggered by the COVID-19 pandemic. Government measures like increasing Employment Insurance benefits for maternity and paternity leave could help alleviate some financial concerns holding Canadians back from having kids. However, the current EI benefits, which only provide up to 55% of salary, are deemed insufficient by many experts. Other countries, like France and New Zealand, offer more generous parental benefits, prompting calls for similar reforms in Canada.
Potential solutions to ease financial pressures on parents include increasing parental leave benefits, implementing policies that allow working during parental leave, and encouraging the corporate sector to offer better compensation to employees on parental leave. The federal government in Canada has been consulting on modernizing the Employment Insurance program to better meet the needs of workers and parents. Despite some changes made since 2017 to provide more flexibility, there is a growing call for further reforms, such as better parental leave benefits and employer support. Companies can play a significant role in offering top-ups and additional benefits to working parents.
Chelsea Heney’s story reflects the challenges faced by many parents in Canada, especially concerning financial strains during parental leave. She highlights the inadequacy of parental EI benefits and the need for greater recognition and support for parents in the workforce. As more Canadians delay parenthood due to financial concerns, there is a growing urgency for policy reforms that prioritize the needs of working parents and provide adequate support during the crucial early years of child-rearing. Ultimately, addressing these issues will require a comprehensive approach that includes government initiatives, corporate support, and societal changes to create a more equitable and supportive environment for families.
