CPP Investment Board
Under the direction of then Finance Minister Paul Martin, the CPP Investment Board (CPPIB) was created in 1997 as an organization independent of the government to monitor and invest the funds held by the CPP. In turn, the CPP Investment Board created the CPP Reserve Fund. The CPP Investment Board is a crown corporation created by an Act of Parliament. It reports quarterly on its performance, has a professional management team to oversee the operation of various aspects of the CPP reserve fund and also to plan changes in direction, and a board of directors that is accountable to but independent from the federal government.
Read more about this topic: Canada Pension Plan
Famous quotes containing the words investment and/or board:
“There is something fascinating about science. One gets such wholesale returns of conjecture out of such a trifling investment of fact.”
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)
“As a man-of-war that sails through the sea, so this earth that sails through the air. We mortals are all on board a fast-sailing, never-sinking world-frigate, of which God was the shipwright; and she is but one craft in a Milky-Way fleet, of which God is the Lord High Admiral.”
—Herman Melville (1819–1891)