Canada Pension Plan in the context of "Quiet Revolution"

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⭐ Core Definition: Canada Pension Plan

The Canada Pension Plan (CPP; French: Régime de pensions du Canada) is a contributory, earnings-related social insurance program. It is one of the two major components of Canada's public retirement income system, the other being Old Age Security (OAS). Other parts of Canada's retirement system are private pensions, either employer-sponsored or from tax-deferred individual savings (known in Canada as a registered retirement savings plan). As of June 30, 2024, CPP Investments (CPPIB) manages over C$646 billion in investment assets for the Canada Pension Plan on behalf of 22 million Canadians. CPPIB is one of the world's largest pension funds.

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👉 Canada Pension Plan in the context of Quiet Revolution

The Quiet Revolution (French: Révolution tranquille) was a period of socio-political and socio-cultural transformation in French Canada, particularly in Quebec, following the 1960 Quebec general election. This period was marked by the secularization of the government, the establishment of a state-administered welfare state known as the état-providence, a shift in political alignment toward federalist and separatist (or sovereignist) factions (each faction influenced by Quebec nationalism), and the eventual election of a pro-sovereignty provincial government in the 1976 election. While the Quiet Revolution is often associated with the efforts of the Liberal Party of Quebec's government led by Jean Lesage (elected in 1960) and, to some extent, Robert Bourassa (elected in 1970 after Daniel Johnson of the Union Nationale in 1966), its profound impact has influenced the policies of most provincial governments since the early 1960s.

A primary change was an effort by the provincial government to assume greater control over healthcare and education, both of which had previously been under the purview of the Catholic Church. To achieve this, the government established ministries of Health and Education, expanded the public service, made substantial investments in the public education system, and permitted the unionization of the civil service. Additionally, measures were taken to enhance Quebecois control over the province's economy, including the nationalization of electricity production and distribution, the creation of the Canada/Québec Pension Plan, and the establishment of Hydro-Québec in an effort to nationalize Quebec's electric utilities. Furthermore, during this period, French Canadians in Quebec adopted the term Québécois to distinguish themselves from both the rest of Canada and France, solidifying their identity as a reformed province.

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