Archived - Fact Sheet: What the Agreement in Principle Means for Canadians

1 Benefits are presented in wage-adjusted 2016 dollars in order to provide a comparison to 2016 CPP levels. Maximum benefits require roughly 40 years of maximum contributions and benefit take-up at age 65. Under the CPP enhancement, the upper earnings limit will be increased by 14 per cent, which contributes to the higher maximum benefit.

2 The contribution rate for the CPP enhancement will be confirmed through an independent actuarial assessment, which will be performed by the Office of the Chief Actuary. Contributions have been estimated by the Department of Finance Canada.

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