Canadians and Their Money

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27.The Task Force recommends that the Government of Canada publish periodicprogress reports to Canadians on the implementation of the National Strategy (p. 80).28. The Task Force recommends that the Government of Canada amend the PublicAccountability Statements Regulations, which require federally regulated financialinstitutions to publicly report on their contributions to Canadian society, to includedisclosure on financial literacy initiatives, as follows:a) Financial literacy initiatives should be added to the list of “what statements mustcontain” (c.f. section 3.(1) of the regulations); andb) A clear definition, guidelines or parameters around what constitutes a “financialliteracy initiative” should be specified for reporting purposes (p. 81).29. The Task Force recommends that, beyond financial institutions, all organizations ofsufficient size (e.g., those listed on S&P/TSX60) report on their participation in theNational Strategy through their existing annual shareholder reports, corporate socialresponsibility reports or other public reporting channels (p. 82).30. The Task Force recommends that the Government of Canada continue to sponsorand undertake research in financial literacy and to share Canadian and internationalresearch findings with all stakeholders (p. 84).90TASK FORCE ON FINANCIAL LITERACY – Appendices
Appendix B: Members of the Task ForceChairVice ChairDonald A. StewartChief Executive OfficerSun Life Financial Inc.L. Jacques Ménard, O.C., O.Q.ChairmanBMO Nesbitt BurnsMembersLaurie CampbellExecutive DirectorCredit CanadaEvelyn JacksPresidentThe Knowledge BureauGreg PollockPresident and CEOAdvocisMarcel CôtéPartnerSECOR ConsultingRuth KellyPresident and CEOVenture Publishing Inc.Bill SchwartzPrincipalPolestarCommunications Inc.Pat ForanJournalist and AuthorJanice MacKinnonProfessor of Fiscal PolicyUniversity of SaskatchewanJean VincentPresident andGeneral ManagerNative CommercialCredit CorporationEdward (Ted) GordonFinancial Security AdvisorFreedom 55 FinancialP. Mitchell MurphyCareer Education ConsultantWestern School BoardPrince Edward IslandTASK FORCE ON FINANCIAL LITERACY – Appendices 91
Page 1 and 2:
Report of Recommendations on Financ
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Table of ContentsAcknowledgements..
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AcknowledgementsContributions of ma
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www.financialliteracyincanada.comTh
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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
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We commend those authorities who ar
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Governments may consider leveraging
Page 43 and 44: considering the purchase of a finan
Page 45 and 46: “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: 19. The Task Force recommends that
Page 97 and 98: 2520151050Most Canadians are making
Page 99 and 100: 2520151050Few Canadians keep themse
Page 101 and 102: Appendix E: Selected BibliographyTh
Page 103 and 104: Ipsos Reid. (2009). CSA Investor In
Page 105 and 106: Standing Senate Committee on Bankin
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