Page 8 - Acorn - Your Tomorrow booklet

Company Maternity Pay Policy
Whilst the arrival of a new addition to the family can be a very exciting time, it can also lead to financial concerns, and we want to support you during this time through our enhanced maternity pay policy.
How it works:
You will qualify for Company Maternity Pay (CMP) if you meet the following criteria:
• Qualify for Statutory Maternity Pay (SMP)
If you only receive Maternity Allowance, you will not be eligible
for CMP. Please note – this is subject to change based on Government qualifying criteria. For the most up-to-date information, please visit www.gov.uk/maternity-pay-leave
CMP is paid at the full rate of your average basic salary (excluding bonus and overtime), calculated across the previous three months and will be paid for the first sixteen weeks. It includes any SMP that may be due for that period i.e. ‘topped up’ not in addition to SMP. The Company expects all colleagues to exercise a fair and equitable approach to this
in respect to this and reserves the right to change the rate.
SMP and CMP payments will be made on the normal pay date via standard salary mechanisms. Income tax, national insurance and pension contributions will be deducted as appropriate.
This policy is non-contractual, and the Company reserves the right
to discontinue or change the policy with fair notice. Any payment made under the scheme does not set a precedent for future payments.
8 Company Maternity Pay Policy