Financial Literacy Leader Releases Seniors Strategy in Winnipeg

Four main goals in enhancing financial literacy for seniors were announced on a beautiful fall day in Winnipeg last week by Minister of State Kevin Soreinson and Financial Literacy leader, Jane Rooney. 

Also on hand were Manitoba Finance Minister, Jennifer Howard and members of the Manitoba Financial Literacy Forum, including co-founders Evelyn Jacks of Knowledge Bureau and Ainsley Cunningham of the Manitoba Securities Commission.

Ms. Rooney announced that the financial literacy skills of Canada’s approximately five million seniors age 65 and older are lower than other groups. This demographic is expected to double over the next two decades. The four goals are:

• To engage more Canadians in preparing financially for their future years as seniors.
• To help current seniors plan and manage their financial affairs.
• To improve the understanding of and access to public benefits for seniors.
• To increase tools to combat financial abuse of seniors.

The next phase of strategic planning was also announced. Phase 2 of the national strategy on financial literacy will focus on the unique needs of low-income Canadians, Canadians with disabilities, newcomers to Canada and Aboriginal peoples.