Becoming unable to work is not only a difficult personal situation, it can also have major financial consequences. How do you ensure you maintain control of your situation? In this blog, you can read all about the consequences of becoming unable to work and how to prepare for it.
What happens to your income if you become unable to work due to illness or disability?
When you are unable to work, your income often drops significantly. How much you still receive depends on your percentage of incapacity for work and the schemes that apply to you. Possible benefits include, for example, the Ziektewet (Sickness Benefits Act) or the WIA (Work and Income Reintegration Act). Check your collective labour agreement or employment contract for any additional agreements. Many collective labour agreements contain provisions that supplement your income in case of illness or incapacity for work.
Financial risks you can expect
Incapacity for work entails more costs than many people expect. For example, consider:
- Medical expenses Some treatments, medications or aids are not fully reimbursed by the basic insurance.
- Home adaptations: Such as a stairlift or level-access doors. These can in some cases reimbursed via the Social Support Act (WMO)
- Additional travel expenses For example, for visits to specialists or rehabilitation.
What does your collective bargaining agreement say about incapacity for work?
An important step is to check what is in your collective labour agreement. Many collective labour agreements offer additional arrangements on top of statutory regulations. Consider, for example:
- Sick pay Some collective labour agreements offer a higher percentage than the mandatory 70% of your wages.
- Additional benefits In some sectors, collective insurance policies are taken out to limit income loss.
If you’re not sure what your collective agreement covers, please contact a lawyer or a trade union such as De Unie. We can help you analyse your collective agreement and understand your rights.
How can you prepare for long-term sickness?
- Do you know your rights and regulations
Check your employment contract, collective labour agreement and any additional insurance policies. Make sure you know what is arranged in case of incapacity for work. - Take out long-term disability insurance (AOV)
Especially for the self-employed, income protection insurance can be an essential safety net. Compare insurance policies and choose what best suits your situation. - Build up a financial buffer
Set aside a portion of your income for unforeseen circumstances. - Let yourself be advised
A financial advisor can help you identify risks and find suitable solutions. - Keep your situation up to date
Ensure you check every year that you are adequately insured and whether the arrangements in your collective labour agreement have changed.
How does De Unie help?
Being unable to work brings a great deal of uncertainty. De Unie is here to help you with:
- Understanding your collective labour agreement and employment contract: We help you to understand your rights and obligations.
- Legal advice Whether it's continued salary payments, supplementary insurance, or reintegration, our experts are ready to help.
- Conflict mediation Do you have a dispute with your employer? Our legal specialists can assist you.
Please feel free to contact us via sc@unie.nl or call 0345 851 963. We are available on weekdays between 8:30 AM and 5:00 PM.
To learn more about the subject Incapacity for work and sicknessRead our previous blogs on these topics.
