A quick look at the details of the proposed changes to the Canada Pension Plan

OTTAWA — The federal and provincial governments have a tentative agreement to expand the Canada Pension Plan, which would increase payments to retirees and raise premiums. Here are some details of the plan:

-— Changes would be phased in starting in 2019 and the full enhancement of benefits would be available after about 40 years of contributions.

— The income replacement rate will be increased to one-third, from one-quarter of eligible insured earnings, meaning the maximum CPP benefit will be about $17,478 instead of about $13,000.

-— The upper limit on insured earnings will be raised to $82,700.