POLI 3P16 Lecture Notes - Lecture 9: National Pension Scheme, Robert Bourassa, Baby Boomers
3 Oct 2017
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Preferred to maintain role of family and church. Canada pension plan born in the early 1950s. Had seen increased payouts in oas to keep up with inflation. Devised the scheme for a separately funded national pension system. Largely an issue at the federal level until 1962. 1962 lesage"s lib gov"t launches a committee to study pension. Decided that a provisional earnings-related pension would be best. Pearson agreed provinces could use half of funds for investment. Spring 1964 - federal gov"t introduces bill c-75 (cpp) Included 4% tax, wider coverage, greater payout of 25% Ontario wanted an opt out for private insurance contributions. Bringing each in line with one another important. Nov 1964 federal government introduces cpp bill c-136. 100% of funds available to provinces for investment. Cpp passes in april 1965, qpp passes june 1965. Deposited in to caisse de depot et placement du quebec. The one most rewarding to the province would be chosen.
