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The Impact of Working Four Days a Week: Financial Considerations and Smarter Approaches

Jobat Working five days a week: it is less and less the norm. 11.6 percent of salaried men and 42.1 percent of salaried women work part-time. Sometimes that is to take care of someone or because working five days a week is simply not feasible. But what impact will that decision have on your finances, now and later? And are there ways to do it smarter? Jobat.be searched it out for the popular four-fifths works.

By Lisa Meyers, in collaboration with Jobat 02-08-23, 07:40 Last update: 04-08-23, 08:23 Source: Jobat.be

Part-time contract

If you conclude a part-time employment contract that states that you will only work four days out of five, you will not accrue any pension for the days that you do not work. After all, a full career consists of 14,040 days, or 45 years times 312 working days per year.

In addition, you will lose 20 percent of your gross salary and, although the statutory holidays remain unchanged, your number of extralegal holidays or any ADV days will also decrease by one fifth. The sum of your holiday pay and end-of-year bonus will also be lower, and for the day per week that you do not work, you will not receive, for example, a meal voucher, daily allowance or commuting allowance – unless you divide the hours in such a way that you work two half days less. works, instead of one full one.

Striking study: Belgians are not keen on ‘unlimited leave’.

Can it be done differently?

Yes! In certain cases, if you work in the private sector, you can use the systems of motivated time credit or thematic leave. You can do this half-time or with a 4/5 arrangement, where you again choose between working two half days or one full day less.

There are six forms of motivated time credit: following a recognized course, caring for your own child under the age of eight, providing palliative care, caring for a seriously ill family member or close relative, caring for your own child under the age of 21 with a disability , or caring for a child in your family who is seriously ill (without this care being necessary for recovery).

In addition, there are also thematic holidays. This could be parental leave, leave for informal carers, leave to provide palliative care or leave for medical assistance.

When applying, you inform your employer in writing – with him signing a double copy – and you state how you want to reduce your performance. You can also submit an online application to the National Employment Office (RVA). You can find the exact conditions and procedures on their website. Only those types of career break are equalized for the pension, and entitle you to a benefit from the RVA for the days not worked. So if you consider working four-fifths for one of those reasons, you retain more benefits.

Looking for a part-time professional challenge? You can now find 2,500 vacancies in all kinds of sectors via Jobat.be.

But… what if you perform 38 hours in four days?

In the private sector it is also possible to work 9.5 hours every day, to work 38 hours in four days. This way you have an extra day all to yourself, while your wages, pension rights or holiday rights remain unchanged. However, you will only receive four meal vouchers for the week and, for example, daily allowances or allowances for commuting for that day may also be canceled.

Each employer can decide whether his employees can subscribe to a four-day working week by adjusting the work regulations, but he cannot force such a regime on anyone. Please note: with this scheme it is not possible to voluntarily work overtime on the day you have off, because that is diametrically opposed to the purpose of the scheme: maintaining a better work-life balance.

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2023-08-05 09:56:47
#Time #credit #motive #Thematic #engagements #fourfifths #works

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