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:
“The only history is a mere question of one’s struggle inside oneself. But that is the joy of it. One need neither discover Americas nor conquer nations, and yet one has as great a work as Columbus or Alexander, to do.”
—D.H. (David Herbert)
“They are a sort of post-house,where the Fates
Change horses, making history change its tune,
Then spur away o’er empires and o’er states,
Leaving at last not much besides chronology,
Excepting the post-obits of theology.”
—George Gordon Noel Byron (1788–1824)
“Postmodernism is, almost by definition, a transitional cusp of social, cultural, economic and ideological history when modernism’s high-minded principles and preoccupations have ceased to function, but before they have been replaced with a totally new system of values. It represents a moment of suspension before the batteries are recharged for the new millennium, an acknowledgment that preceding the future is a strange and hybrid interregnum that might be called the last gasp of the past.”
—Gilbert Adair, British author, critic. Sunday Times: Books (London, April 21, 1991)