Canadians and Their Money

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Desjardins Financial Security. (2006). Perfect Garden: The Psychology of Retirement. p. 9.Retrieved from www.desjardinslifeinsurance.com/en/life-events/thinking-retirement/Pages/rethink-retirement-survey-results.aspxEnvironics Institute. (2010). Urban Aboriginal Peoples Study: Main Report. Toronto:Environics Institute. Retrieved from uaps.twg.ca/wp-content/uploads/2010/04/UAPS-FULL-REPORT.pdfFadel, C. (2010). “Financial Literacy and 21st Century Skills.” Research paperprepared for the Task Force on Financial Literacy. Available fromwww.financialliteracyincanada.comGarman, T. (2007). “Workplace Productivity and Financial Literacy.” Retrieved fromwww.georgiaconsortium.org/research.aspxGouvernement du Québec. (2010). “Combinaison prévention 0-5-30.” Retrieved fromwww.0-5-30.comGovernment of the United Kingdom, Department for Work and Pensions. (2010). Makingautomatic enrolment work – a review for the Department for Work and Pensions.Retrieved from www.dwp.gov.uk/policy/pensions-reform/workplace-pension-reforms/automatic-enrolment/index.shtmlHSBC Insurance. (2009). The Future of Retirement: It’s Time to Prepare. Retrieved fromwww.hsbc.com/1/PA_1_1_S5/content/assets/retirement/2009_for_report_en.pdfHuman Resources and Skills Development Canada. (2009).“The Canada StudentLoans Program.” Retrieved from www.hrsdc.gc.ca/eng/learning/canada_student_loan/cslp.shtmlHuman Resources and Skills Development Canada. Essential Skills Research Unit. (2010).“Readers’ Guide to Essential Skills Profiles.” Table 1: Money Math. Retrieved fromHRSDC website: www.hrsdc.gc.ca/eng/workplaceskills/essential_skills/general/readers_guide_whole.shtml#a26Human Resources and Skills Development Canada. (2010). “Essential Skills ResearchProject.” Retrieved from www.hrsdc.gc.ca/eng/workplaceskills/essential_skills/general/esrp.shtmlImagine Canada. (2006). “Social Services Organizations in Canada.” Retrieved October 12,2010 from www.imaginecanada.ca/files/www/en/nsnvo/j_social_services_factsheet.pdfIndian and Northern Affairs Canada. (2009). “Urban Aboriginal Strategy – Backgrounder.”Retrieved from www.ainc-inac.gc.ca/ai/ofi/uas/bkg-eng.aspIndustry Canada. (2010). “Prime Minister’s Awards (PMAs) for Teaching Excellence.”Retrieved July 2010 from www.ic.gc.ca/eic/site/pmate-ppmee.nsf/eng/wz01618.html98TASK FORCE ON FINANCIAL LITERACY – Appendices
Ipsos Reid. (2009). CSA Investor Index 2009: Final Report. Retrieved from CanadianSecurities Administrators (CSA) website: www.securities-administrators.ca/uploadedFiles/General/pdfs/CSA%20Investor%20Index%202009%20Final_EN.pdf?n=6519Ipsos Reid. (2010). “Investor Research: The Value of Advice.” Presentation to the InvestmentFunds Institute of Canada Retirement Savings Luncheon. PowerPoint presentationretrieved from www.mutualfundreporter.com/articles/2010_issues/Ipsos_Reid_May_2010.pdfKramer, M., Rogers, J., & Kaznowska, E. (2010). The Illiteracy of the Literate: The Lack ofFinancial Aid Knowledge among Canadian University Students. Ottawa: CanadianAlliance of Student Associations.Lusardi, A. (2008). “Financial Literacy: An Essential Tool for Informed Consumer Choice?”Networks Financial Institute at Indiana State University (working paper 2008-WP-13).Retrieved from Networks Financial Institute website: www.networksfinancialinstitute.org/Lists/Publication%20Library/Attachments/125/2008-WP-13_Lusardi.pdfLusardi, A. (2010). “The Great Shift from DB to DC Pensions.” Presentation to theOECD–Bank of Italy Symposium on Financial Literacy, Rome, Italy.Lyons, A. C., Palmer, L., Jayaratne, K. S. U., & Scherpf, E. (2006). “Are We Making theGrade? A National Overview of Financial Education and Program Evaluation.”The Journal of Consumer Affairs, 40(2), 208–235.Madrian, B. C., & Shea, D. F. (2001). “The Power of Suggestion: Inertia in 401(k) Participationand Savings Behavior.” Quarterly Journal of Economics 116(4), 1149–1187.McKay, S. (2010). “Understanding financial capability in Canada: Analysis of theCFCS.” Research paper prepared for the Task Force on Financial Literacy.Available from: www.financialliteracyincanada.comThe Mentorship Partnership. Internet site. Available at www.thementoringpartnership.com/mentoringMolina, A. (2010). “Financial Literacy and the Canadian Credit Counselling ServicesIndustry.” Research paper prepared for the Task Force on Financial Literacy.Available from: www.financialliteracyincanada.comMorrison, W., & Oxoby, R. (2010). “Economic Research Using Laboratory Experimentsto Investigate Behavioural Aspects of Savings Decisions.” Researchpaper prepared for the Task Force on Financial Literacy. Available from:www.financialliteracyincanada.comMurray, T. S. (2010). “Financial Literacy: a Conceptual Review.” DataAngel PolicyResearch. Research paper prepared for the Task Force on Financial Literacy.Available from: www.financialliteracyincanada.comTASK FORCE ON FINANCIAL LITERACY – Appendices 99
Page 1 and 2:
Report of Recommendations on Financ
Page 3 and 4:
Table of ContentsAcknowledgements..
Page 5 and 6:
AcknowledgementsContributions of ma
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www.financialliteracyincanada.comTh
Page 9 and 10:
touches all residents, our recommen
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3. Lifelong LearningWe believe that
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ensure, at the highest level, accou
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• Navigate the ever-changing fina
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Figure 1: National Average Scores,
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Figure 3: Ratio of Household Debt t
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Figure 4: Key Results from the 2003
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Figure 6: National Strategy on Fina
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GovernmentsGovernments are uniquely
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play a crucial role in providing fi
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Figure 7: Shared Responsibility - M
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term. Further, the mandate should n
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• Enable stakeholders to be activ
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Figure 9: Life EventsReceivingunexp
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Figure 10: Essential Skills - Money
Page 39 and 40:
We commend those authorities who ar
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Governments may consider leveraging
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considering the purchase of a finan
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“lunch and learn” seminars and
Page 47 and 48:
The Role of Professional AdviceThe
Page 49 and 50:
In some cases, programs reach many
Page 51 and 52: Student Loans Directorate at the De
Page 53 and 54: The UAS is also “designed to incr
Page 55 and 56: Throughout the public consultation
Page 57 and 58: since 1982. His report, entitled
Page 59 and 60: Take-up of Government BenefitsEarli
Page 61 and 62: Programs for SavingIn our deliberat
Page 63 and 64: programs. We encourage, as a supple
Page 65 and 66: When it comes to online learning, h
Page 67 and 68: Public Awareness CampaignCreative a
Page 69 and 70: Fraud Prevention and EducationWe pr
Page 71 and 72: Self-Assessment ToolStudies and sur
Page 73 and 74: contests could also be used to fost
Page 75 and 76: ear a responsibility to communicate
Page 77 and 78: The federal, provincial and territo
Page 79 and 80: 4.5.Planning ahead (thinking about
Page 81 and 82: students have acquired some of the
Page 83 and 84: and offer funding and professional
Page 85 and 86: To that end, the Government should
Page 87 and 88: Important research gaps remain, how
Page 89 and 90: Conclusion: The Way ForwardSuccess
Page 91 and 92: AppendicesAppendix A: Summary of Re
Page 93 and 94: 19. The Task Force recommends that
Page 95 and 96: Appendix B: Members of the Task For
Page 97 and 98: 2520151050Most Canadians are making
Page 99 and 100: 2520151050Few Canadians keep themse
Page 101: Appendix E: Selected BibliographyTh
Page 105 and 106: Standing Senate Committee on Bankin
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