Thursday, May 25, 2006
Category:
Consolidation
Working mums in the UK and Ireland struggling due to low maternity pay may want to consider taking out secured loans to help them with their finances.
Research by Mercer Human Resource Consulting has found that women in the UK and Ireland are provided with the least amount of statutory maternity pay in Western Europe.
In addition, British women receive lower entitlements than new mothers in some eastern European countries.
Having a child is extremely expensive and new mothers can do with all the financial help they can get. The low statutory maternity pay may require some to acquire secured loans to help ease the financial burden.
In Denmark and Norway, female workers receive more than twice the amount of benefits as women in the UK, it was discovered.
"Laws have been extended in the UK to offer women longer maternity leave, yet pay levels are still very low compared to the rest of Europe," remarked Mark Sullivan, worldwide partner in Mercer London.
Women in the UK are entitled to 26 weeks paid maternity leave and an extra 26 weeks unpaid leave.
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New mothers considering taking out
secured loans are urged to shop around to find the best deal on the market.
