Fixing the Future: How Canada's Usually Fractious Governments Worked Together to Rescue the Canada Pension Plan

by Bruce Little

In 1993, most Canadians believed that big government deficits were permanent and that the Canada Pension Plan (CPP) was in such deep trouble that younger Canadians would never collect a retirement pension. They believed too that Canada's politicians were incapable of dealing with either problem. Yet by 1998, both were essentially solved. While the deficit battles have been recounted many times, the story of the reform that rescued the CPP has gone almost entirely untold. In Fixing the Future , Bruce Little explains the CPP overhaul and shows why it stands as one of Canada's most significant public policy success stories, in part because it demanded an almost unparalleled degree of federal-provincial co-operation. Providing an overview of the CPP's entire history from its beginning in 1965, Little pulls together published, and new unpublished, material relating to the CPP reform, and interviews over fifty politicians, government officials, and others who were deeply involved in the reforms for their recollections, insights, and observations. A superbly told history of one of Canada's most important public policy issues, Fixing the Future will be of interest to political scientists, historians, economists, and anyone concerned about their retirement.

414 pages, Paperback

First published October 11, 2008

Reviews

[Isabelle Duchaine · Rating 4 out of 5]

Gone Girl this ain't - this book is a "who dun it" about the reform of Canada's pension system in the early 90s, heavy on pension policy and light on....sizzle. This is a very well-researched, exhaustive account of a time Canada's political leaders, civil service and policy class got it right. Reforming popular entitlements program before it went off the cliff is a risky move, but the convection, hard work and ability to set aside political fueding paid off. Kudos to all involed, we now have a solvent and best-in-class pension system. Would be great to get more in this vogue about other policy choices, but most don't have the $$ to spend on writing this type of work.

(Only read this book if you are interested in how pensions or major financial policy / dealmaking is done in Canada.)