Financial literacy and retirement well‑being in Canada: FC5-49/2017E-PDF

an analysis of the 2014 Canadian Financial Capability Survey /

“Our study focuses on retirees (Canadians aged 65 and older, who are retired) and near-retirees (Canadians aged 55 and older, who are working). We conducted an analysis using data from the 2014 Canadian Financial Capability Survey to model the impact of an increase in financial literacy on financial well-being. Among the studied age groups, we found that the two most important elements of financial literacy were (1) financial confidence and (2) making use of advice on financial products. In almost every instance, these variables were related to our indicators of financial well-being. Our results suggest that retirees and near retirees may benefit from experiential learning approaches intended to increase financial confidence as well as from using the skills related to making use of advice on the products that help them reach their financial goals"--Executive summary.

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Department/Agency Financial Consumer Agency of Canada.
Title Financial literacy and retirement well‑being in Canada
Subtitle an analysis of the 2014 Canadian Financial Capability Survey /
Publication Type Monograph
Language [English]
Other Language Editions [French]
Format Electronic
Electronic Document

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Note Issued also in French under title: La littératie financière et le bien-être financier à la retraite au Canada : une analyse des résultats de l’enquête canadienne sur les capacités financières de 2014. Cover title. "Yoni Simhon and Steve Trites, Education, research and policy division, Financial Consumer Agency of Canada"--Verso of cover. "March 2017"--Verso of cover.
Date 2017.
Number of Pages 36 p.
ISBN 978-0-660-08306-3
Catalogue Number
  • FC5-49/2017E-PDF
Subject Terms Personal finance, Retirement, Statistics