Trigger-based equivalent of old PostgreSQL time travel module - see https://blog.myitcv.io/2014/02/25/row-level-version-control-with-postgresql.html for more details

time_travel_trigger.sql

/*
Copyright (c) 2015 Paul Jolly <paul@myitcv.org.uk)

Permission is hereby granted, free of charge, to any person obtaining a copy
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The above copyright notice and this permission notice shall be included in
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IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY,
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AUTHORS OR COPYRIGHT HOLDERS BE LIABLE FOR ANY CLAIM, DAMAGES OR OTHER
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THE SOFTWARE.
*/

CREATE OR REPLACE FUNCTION process_timetravel_before() RETURNS TRIGGER AS $timetravel_before$
DECLARE
  temp_row RECORD; -- a temporary variable used on updates/deletes
  time_now TIMESTAMP; -- get the time now just once.... for consistency's sake
BEGIN
  time_now = now();

  IF (TG_OP = 'UPDATE' OR TG_OP = 'DELETE') THEN

    -- the user should not be able to update historic rows
    IF OLD.valid_to != 'infinity' THEN
      RAISE EXCEPTION 'Cannot % old row', TG_OP;
    END IF;

    -- use of TG_TABLE_NAME keeps this generic and non-table specific
    -- see http://www.postgresql.org/docs/9.3/static/plpgsql-statements.html#PLPGSQL-STATEMENTS-EXECUTING-DYN
    EXECUTE 'SELECT * FROM ' || TG_TABLE_NAME::regclass || ' WHERE ctid = $1 FOR UPDATE' USING OLD.ctid;

    -- not sure whether this is strictly required... could we modify OLD without side effects?
    temp_row := OLD;
    temp_row.valid_to := time_now;

    IF (TG_OP = 'UPDATE') THEN

      -- 'bump' the valid_from and ensure valid_to = 'infinity'
      NEW.valid_from := time_now;
      NEW.valid_to := 'infinity';

      -- allow the update to continue... so that the correct number of rows are reported
      -- as having been affected
      RETURN NEW;

    ELSIF (TG_OP = 'DELETE') THEN

      -- we want to allow the delete to continue... so that the correct number of rows are reported
      -- as having been affected
      RETURN OLD;

    END IF;

    RETURN NULL; -- shouldn't ever get here

  ELSIF (TG_OP = 'INSERT' AND NEW.valid_from is null OR NEW.valid_to is null) THEN

    -- this case could well be avoided by having a table definition with defaults:
    --
    --   valid_from = now()
    --   valid_to = 'infinity'
    --
    -- but we include this as a safety net
    IF NEW.valid_from is null THEN
      NEW.valid_from := time_now;
    END IF;
    IF NEW.valid_to is null THEN
      NEW.valid_to := 'infinity';
    END IF;

    -- allow the insert to continue... so that the correct number of rows are reported
    -- as having been affected
    RETURN NEW;

  ELSIF (TG_OP = 'INSERT') THEN

    -- allow the insert to continue... so that the correct number of rows are reported
    -- as having been affected
    RETURN NEW;

  END IF;

  RETURN NULL; -- won't get here if we only create the trigger for insert, update and delete

END;
$timetravel_before$ LANGUAGE plpgsql;

CREATE OR REPLACE FUNCTION process_timetravel_after() RETURNS TRIGGER AS $timetravel_after$
DECLARE
  temp_row RECORD; -- a temporary variable used on updates/deletes
  time_now TIMESTAMP; -- get the time now just once.... for consistency's sake
BEGIN
  time_now = now();

  IF (TG_OP = 'UPDATE' OR TG_OP = 'DELETE') THEN

    -- not sure whether this is strictly required... could we modify OLD without side effects?
    temp_row := OLD;
    IF (TG_OP = 'UPDATE') THEN
      temp_row.valid_to := NEW.valid_from;
    ELSIF (TG_OP = 'DELETE') THEN
      temp_row.valid_to := time_now;
    END IF;

    -- again, use of TG_TABLE_NAME keeps this generic and non-table specific
    EXECUTE 'INSERT INTO  ' || TG_TABLE_NAME::regclass || ' SELECT $1.*' USING temp_row;

  END IF;

  RETURN NULL; -- return value doesn't matter in after

END;
$timetravel_after$ LANGUAGE plpgsql;

Updated link for the related blog post: https://blog.myitcv.io/2014/02/25/row-level-version-control-with-postgresql.html

Thanks, @breml