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Canada Pension Plan

The Canada Pension Plan (CPP) is an earnings-related public pension plan. The CPP makes a monthly payment to Canadians and their families to partially replace their income after retirement, disability or death. Working Canadians make regular contributions to the CPP in order to be eligible. The CPP covers all Canadian workers except those in Quebec who are covered by the parallel Quebec Pension Plan (QPP). The Canada Pension Plan Investment Board (CPPIB) manages CPP assets, making it one of the largest pension fund managers in the world. As of 31 March 2021, CPPIB ended its 2021 fiscal year with net assets of 497.2 billion.

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Caisse de dépôt et placement du Québec

The Caisse de dépôt et placement du Québec (CDPQ) was established by an act of the National Assembly on 15 July 1965. The CDPQ was created to  manage funds deposited by the Québec Pension Plan (QPP), a public insurance plan similar to the Canadian Pension Plan (CPP). The CDPQ is a global investment group with 10 international offices. As of 30 June 2021 the CDPQ’s net assets totaled $390 billion.

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Québec Pension Plan

The Québec Pension Plan (QPP) came into effect in 1966. It is the counterpart of the Canada Pension Plan (CPP). Similar to the CPP, the QPP is a compulsory public insurance plan for the Quebec labour force. The QPP provides persons who have worked in Quebec and their families with a retirement pension, disability benefits and survivors’ benefits. The QPP is financed by payroll contributions made from employees and employers. The QPP is administered by Retraite Québec and contributions are managed by the Caisse de dépôt et placement du Québec (CDPQ).

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Lester B. Pearson

Lester Bowles (“Mike”) Pearson, PC, OM, CC, OBE, prime minister 1963–68, statesman, politician, public servant, professor (born 23 April 1897 in Newtonbrook, ON; died 27 December 1972 in Ottawa, ON). Lester Pearson was Canada’s foremost diplomat of the 1950s and 1960s. He formulated the basics of the country’s postwar foreign policy; particularly its involvement in NATO and the United Nations, where he served as president of the General Assembly. In 1957, he received the Nobel Peace Prize for his diplomatic efforts in facilitating Britain and France’s departure from Egypt during the Suez Crisis. A skilled politician, he rebuilt the Liberal Party and as prime minister strove to maintain Canada’s national unity. Under his leadership, the government implemented a Canada Pension Plan; a universal medicare system; a unified Armed Forces; and a new national flag.