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:
“There is a constant in the average American imagination and taste, for which the past must be preserved and celebrated in full-scale authentic copy; a philosophy of immortality as duplication. It dominates the relation with the self, with the past, not infrequently with the present, always with History and, even, with the European tradition.”
—Umberto Eco (b. 1932)
“The history of all hitherto existing society is the history of class struggles.”
—Karl Marx (1818–1883)