Extended parental leave coming — but can families afford to take it?

An extended parental leave option promised by the federal Liberals is about to kick in for some workers, but the longer leave doesn't come with any extra money. Watch as CBC's Jacqueline Hansen and a financial planner take a deep dive into the realities of the new system.

Parents will be able to spread employment insurance benefits over 18-month period

An option for extended parental leave promised by the federal Liberals is about to kick in for some workers — but the longer leave doesn't come with any extra money, which has prompted some critics to say the new plan will be of limited use.

Employees in federally regulated sectors — such as the public service, banks and telecoms — will be the first workers able to access the extended leave, which allows parents to take 18 months off instead of 12.  If a worker chooses to take the full 18 months, the maximum amount they'll receive weekly will go down to $326 from $543. 

So how will the program work? And who is expected to benefit the most?

Watch as CBC's Jacqueline Hansen and financial planner Shannon Lee Simmons take a deeper look at the realities of parental leave and take questions from viewers about how to budget for baby.