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:
“English history is all about men liking their fathers, and American history is all about men hating their fathers and trying to burn down everything they ever did.”
—Malcolm Bradbury (b. 1932)
“Every generation rewrites the past. In easy times history is more or less of an ornamental art, but in times of danger we are driven to the written record by a pressing need to find answers to the riddles of today.... In times of change and danger when there is a quicksand of fear under men’s reasoning, a sense of continuity with generations gone before can stretch like a lifeline across the scary present and get us past that idiot delusion of the exceptional Now that blocks good thinking.”
—John Dos Passos (1896–1970)
“The principle office of history I take to be this: to prevent virtuous actions from being forgotten, and that evil words and deeds should fear an infamous reputation with posterity.”
—Tacitus (c. 55–117)