Have you already received the payment of your holiday allowance? For most people, payment of holiday pay takes place in May, for some in June. And with others? Not at all . This is the period when I once again realize that I am self-employed. I don't get holiday pay. Bummer! Self-employed persons and holidays also present even more challenges than just that holiday pay!
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It's pretty much the best time of the year when the holiday pay is being paid. Or is that not recognizable to you? I always loved seeing so much extra money in my bank account in the month of May. Did you know that your employer is obliged to pay the holiday pay in May or June? The holiday pay may be paid in instalments, if that suits the boss better, but it must all be transferred by June.
Fortunately, because 8% of your gross annual salary is for most a nice addition to the standard salary. Too bad I have to miss that moment 😉 . Fortunately, I don't have much to complain about, so that's it.
In principle, everyone who works is paid holiday pay. Unless you are self-employed, then you have to take care of it yourself. It is also the case that if you receive a benefit (WW or social assistance benefit) you are entitled to holiday pay. If you have sickness benefit or maternity benefit, the holiday pay is already included in this.
If you do work, but you are - temporarily or for a longer period of time - covered by the sickness benefit, you are also entitled to holiday pay. If you are out of circulation for a longer period of time, you may have to take into account that the 8% holiday allowance is based on the gross annual salary. In the event of a longer absence due to illness, it is possible that you will only be paid 70%, and that the base salary for the holiday allowance is therefore lower. As a result, the holiday pay is also lower.
There is quite a difference. Even though the holiday payout is intended to be used for your vacation, there are quite a lot of families these days that use this money for something else.
But about a third of the people who receive holiday pay actually spend this holiday pay on a holiday. Half of the people use holiday pay as a bonus in the bank to save and a smaller proportion use the holiday pay for other things such as the car, a television, a new telephone. Logical, too, when you consider that there are many people for whom that holiday pay is a kind of disguised way of saving. Much needed to be able to do something extra.
As mentioned, I do not receive holiday pay myself. But Frank is happy, otherwise it would be a very bare intention for us 😉 . However, we never have a fixed destination for our holiday money. We will undoubtedly spend part of it on the holiday, another part disappears on the big heap where all the extras are made and from which, for example, the municipal taxes are paid, which usually fall in the letterbox in August!
What I'm curious about now… if you have received a holiday payout, what are you going to do with it?
