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:
“Properly speaking, history is nothing but the crimes and misfortunes of the human race.”
—Pierre Bayle (1647–1706)
“The greatest honor history can bestow is that of peacemaker.”
—Richard M. Nixon (1913–1995)
“Yet poetry, though the last and finest result, is a natural fruit. As naturally as the oak bears an acorn, and the vine a gourd, man bears a poem, either spoken or done. It is the chief and most memorable success, for history is but a prose narrative of poetic deeds.”
—Henry David Thoreau (1817–1862)