ANZ hikes parents’ paid leave

ANZ will increase paid parental leave to 26 weeks in July, two years ahead of the extension becoming law.

The country’s biggest bank employs a staff of more than 8000, of whom about 240 take paid parental leave each year.

Under the current employment law, workers are entitled to 52 weeks of unpaid parental leave, but only 18 weeks of that is government-paid parental leave.

From July the Government will incrementally increase paid parental leave to 26 weeks by 2020.

ANZ insurance claims administrator Chloe Taylor-Dykman is expecting her first child in July and said the extra paid leave meant she could spend more time caring for her newborn at home. ‘‘It’ll be way less pressure.’’

ANZ chief executive David Hisco said increasing paid parental leave was a step towards making staff feel more valued.

‘‘I know those first months are important. [Babies] grow and develop so quickly, so I want our staff to feel they can choose to spend time at home if they wish, with less financial strain,’’ he said.

Primary caregivers will be paid their full salary after the birth or adoption of a child.

Workers will also be able to take two weeks of paid family leave, increasing the entitlement to 28 weeks and can take a lumpsum employer contribution to reduce the impact of unpaid leave on their KiwiSaver balances, ANZ said in a statement.

Leave also accrues and workers can work a paid day every three months to remain in contact with their teams.

New parents have been legally entitled to 40 hours of paid work since 2016, in order to maintain contacts at work.