History
See also: Canada_Pension_Plan#HistoryThe Canada Pension Plan was first established in 1966. For much of its history, the plan relied on contributions to pay benefits. By 1996, it was clear the plan was unsustainable. Major changes to the plan occurred, leading to a gradual increase in the contribution rate to its current 9.9% and the creation of the CPP Investment Board as a crown corporation that would operate at arm's length from the government.
Read more about this topic: CPP Investment Board
Famous quotes containing the word history:
“Boys forget what their country means by just reading “the land of the free” in history books. Then they get to be men, they forget even more. Liberty’s too precious a thing to be buried in books.”
—Sidney Buchman (1902–1975)
“What you don’t understand is that it is possible to be an atheist, it is possible not to know if God exists or why He should, and yet to believe that man does not live in a state of nature but in history, and that history as we know it now began with Christ, it was founded by Him on the Gospels.”
—Boris Pasternak (1890–1960)
“A great proportion of the inhabitants of the Cape are always thus abroad about their teaming on some ocean highway or other, and the history of one of their ordinary trips would cast the Argonautic expedition into the shade.”
—Henry David Thoreau (1817–1862)