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Here, you will learn about Retirement and financial security through videos, websites, and images. Financial security refers to the peace of mind felt when we aren't worries about money especially during retirement. Often, this means having enough income to comfortably cover expense, being debt-free, and have savings to cover emergencies.

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This website is about TD Bank and how they teach and promote financial security. At TD, they are committed to providing access to tools and programs to help people live their lives with greater financial confidence and the outcomes they want to achieve and the type of initiatives they want to fund.

The reason I chose this website is because for many they do not know  what there financial institution may offer them, what it means, and how to get there.

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At TD, we're committed to providing access to tools and programs to help people live their lives with greater financial confidence. Read more about the outcomes we want to achieve and the type of initiatives we want to fund here.

How we're helping to improve financial confidence and skills.

Introducing The TD Ready Challenge

The TD Ready Challenge provides ten $1 million (CAD) grants to organizations that have scalable solutions that will help build more inclusive futures.

In 2018 TD Ready Challenge sought to fund and support innovative solutions focused on creating greater income stability in a changing world. TD welcomed solutions that helped people prepare and prosper in a future where we will live and work differently.

Have a question or comment about how TD is contributing to Financial Security?

Read more about our commitments

We aspire to help improve the environment so people and economies can thrive.

We aspire to help people participate and be included in their community.

We aspire to create more equitable health outcomes for all.

Back to top Top

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td canada trust
td
financial planning
affordable housing
social entrepreneurship
financial literacy
what is entrepreneurship
how much house can i afford
future of work
financial advice
td locations

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At TD, we're committed to providing access to tools and programs to help people live their lives with greater financial confidence. Read more about the outcomes we want to achieve and the type of initiatives we want to fund here. How we're helping to improve financial confidence and skills.

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On this site, you'll find information about Canada's retirement income system (RIS). The Government believes that all Canadians deserve a safe, secure and dignified retirement, however in recent years company insolvencies have raised concerns about the security of pension, wage and benefit entitlements for workers and retirees.

The reason I chose this website is because The Government of Canada breaks down Canada's retirement income system, provides a background on the types of retirement income seniors are entitled to, and the laws and responsibilities for employers.

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Issue

The Government believes that all Canadians deserve a safe, secure and dignified retirement, however in recent years company insolvencies have raised concerns about the security of pension, wage and benefit entitlements for workers and retirees. In keeping with its Budget 2018 commitment, the Government is seeking feedback from pensioners, workers, companies, experts and other stakeholders in order to take a whole-of-government, evidence-based approach towards addressing retirement security for all Canadians.

Background

Canada's retirement income system (RIS) is based on three pillars:

1. The Old Age Security program (OAS) and the Guaranteed Income Supplement (GIS) provide a basic level of retirement income.

2. The Canada Pension Plan (CPP) provides basic earnings replacement for workers, financed by contributions from workers, employers and self-employed individuals.

3. Employment-based pension plans (Defined Benefit (DB) and Defined Contribution (DC)), as well as voluntary tax-assisted private saving opportunities, such as Registered Retirement Savings Plans and Tax-Free Savings Accounts, provide additional saving opportunities.

Canada's RIS compares well to those of other countries, with a poverty rate among seniors that is significantly lower than the OECD average. The diversity of supports in the system is one of its greatest strengths, balancing fairness, affordability, and sustainability of retirement savings.

While the Canadian RIS has clear strengths, all three pillars require continual monitoring to ensure their long-term sustainability and effectiveness in the face of current and future developments. The third pillar in particular has been impacted by changing demographic trends, the global economic downturn in 2008, and low long-term interest rates. Funding pressures as a result of these trends have been particularly acute for DB pension plans in which the promised benefit level is backed by the employer. In general, DB plans contribute to the retirement security of many Canadians by providing a secure and stable lifetime retirement income. Traditionally, DB plans have been the predominant type of pension arrangement among employers offering employee pension plans. However, some employers have responded to DB plan funding pressures by closing their DB plans to new hires. Concurrent with this trend, private sector DB plan membership in Canada has fallen from 2 million workers in 2007 to 1.2 million workers in 2017.

In addition to long-term funding challenges for employment-based DB pension plans, significant concerns have been raised about retirement income security where the employer is at risk of insolvency and also has unfunded DB pension liabilities. While such insolvencies are relatively uncommon, some cases have resulted in significant pension reductions for retirees and workers. The risk of retirement income loss can be greater for employees in certain economic sectors that are vulnerable to market shocks, and which may also have large legacy pension and benefit obligations relative to their current workforce and earning potential. Further, the negative impact of pension reductions in employer insolvency can be exacerbated by the termination of employee benefit plans, which provide health, insurance, and long-term disability (LTD) coverage.

The current legislative framework contains strong preventative measures and legal remedies to reduce unfunded pension liabilities and employee exposure to employer insolvency. Federal and provincial pension regulation safeguards pension assets for the sole benefit of pensioners, and provides for the funding of pension plans over time. Insolvency laws include wage and pension protections, and can facilitate restructurings that enable a financially-distressed employer to stay in business and continue to sponsor a pension plan. Corporate law can also protect the interests of pensioners, through restrictions on payments to shareholders to maintain a corporation's financial integrity, and through liability for unfair or oppressive conduct by corporations or directors in appropriate cases.

The regulation of private pension plans and corporate governance in Canada is shared between the federal government and the provinces. Each jurisdiction adopts pension and corporate governance initiatives in accordance with its own policy objectives. Approximately seven per cent of private pension plans in Canada are federally regulated, with the remainder being provincially regulated. Around 10 per cent of corporations in Canada are incorporated under federal legislation, with the remainder incorporated under provincial or territorial laws. As such, enhancing the federal pension and corporate governance frameworks to further protect pension benefits against the risk of employer insolvency would not yield results for all Canadians. Further, with respect to pension regulation, the need for such enhancements may not be as high compared to other jurisdictions, as there have been extremely few incidents of corporate insolvencies affecting federally regulated plans. Nevertheless, the Government is open to hearing views on potential enhancements to the federal pension and corporate governance frameworks.

A Balanced, Principled and Evidence-Based Approach to RIS Policy

While Canada's current RIS legislative framework protects retirement security, the Government must ensure that the RIS continues to keep pace with developments in the marketplace and takes into account the perspectives of all Canadians. Recent insolvency cases have raised significant stakeholder concerns about potential gaps in the pension, insolvency, corporate and employee benefit regulatory environment. The Government welcomes views on whether additional measures are necessary to better protect employee pension and benefit claims against the risk of employer insolvency.

In its consideration of stakeholder proposals to strengthen the RIS legislative framework, the Government will follow a balanced, principled, evidence-based approach. The RIS regime includes both pension-specific legislation and broad marketplace framework laws designed to promote economic stability, growth and international competiveness for Canada, such as insolvency and corporate governance statutes. Given the broad reach of the RIS legislative framework, even targeted measures to improve the security of retirement benefits may have significant and unforeseen consequences for other sectors of the economy. In order to reach a balanced outcome, the Government will assess potential reform proposals with regard to their effectiveness in protecting pensioner and employee interests, whether the proposed action supports sustainable pension plan options, and their compatibility with the core principles and objectives of Canada's current RIS and marketplace framework laws.

With respect to measures intended to reduce pensioner losses due to employer insolvency, for example, it is important to take other insolvency policy objectives into account, such as the need to balance the interests of other creditors, the potential impact on credit cost and availability, and whether the proposals would reduce the likelihood of a successful restructuring that could save jobs and preserve business value.

With respect to corporate governance reforms, measures to better align corporate decision-making with pensioner interests must be weighed carefully against their potential impact on investment decisions, capital markets, and innovation by Canadian firms.

Finally, changes to pension legislation intended to improve benefit security must consider the impact of any resulting increased costs to employers on the affordability and sustainability of DB pension plans, in particular that additional requirements do not result in employers closing their DB plans and offering no lifetime pension option for their employees. Increased pension costs may also have implications for economic growth and job creation.

The Current RIS Environment and Responses to Challenges

Since 2015, the Government has taken action to enhance Canada's RIS by restoring the age of eligibility for OAS to 65 in Budget 2016, and enhancing the CPP to increase the maximum benefit by about 50 per cent over time. Moreover, since the global economic downturn, it has also taken some specific steps to enhance retirement security and better protect employees from the consequences of employer insolvency (as well as consulted on a wide range of potential policy options), including in the following areas.

Pension Funding Rules

Federal pension law reforms since 2009 have enhanced protections for plan members and reduced funding volatility for employers. Federally regulated pension plans are required to be 100 per cent funded on a solvency basis, with any shortfall paid by the employer within five years in order to help ensure that plans have sufficient assets to provide for all benefits, both while the plan is ongoing and in the event of plan termination. This serves to protect the rights and interests of plan beneficiaries. At the same time, employers are permitted to amortize deficits over a prescribed period in recognition that pension plans may have, at times, a deficit too large to address all at once without harming the financial integrity of the employer. In this way, federal pension plan funding standards strike a balance between benefit security for plan beneficiaries and flexibility for the employer.

Recently, certain provinces have reformed their pension funding rules to ease employer solvency funding requirements for pension plans under their respective jurisdictions.

Insolvency Law

In 2008-2009, the Bankruptcy and Insolvency Act (BIA) and the Companies' Creditors Arrangement Act (CCAA) were amended to require that outstanding pension contributions and unpaid wages and benefits (up to $2000 per employee) be paid ahead of secured creditors. The CCAA was also amended to codify judicial practices on interim financing and asset sales, and prevent the termination of collective agreements while under CCAA protection. In a statutory review of the BIA and CCAA in 2014-15, pensioner and employee groups advocated for priority status for unfunded pension liabilities and benefits, such as LTD programs. However, there was no consensus on this issue, as other stakeholders were concerned about the potential negative economic consequences of using insolvency law to address pension deficits (for example, credit market impacts, and effects of shifting pension losses to other creditors).

Corporate Governance

The Canada Business Corporations Act (CBCA) provides the basic corporate governance framework for approximately 310,000 Canadian corporations. In 2013-2014, the Government conducted public consultations with respect to the CBCA, based on a wide-ranging discussion paper. The consultations sought views from Canadians on a number of corporate governance issues that could impact retirement security, including executive compensation, greater accountability of corporate boards to shareholder and stakeholder interests, greater corporate transparency, the use of the oppression remedy, and corporate social responsibility. Recently passed legislative reforms provide for greater transparency and shareholder democracy, however, there was no consensus on more contentious issues, such as executive compensation.

While these changes will enhance retirement security for Canadians, a number of stakeholders have continued to press for further action in the areas of pension, corporate, insolvency and labour law in order to better protect employee and retiree pension claims.

Options for Stakeholder Comment

In light of the foregoing, the Government wishes to hear the views of stakeholders on further measures that could be adopted to enhance retirement security for employees and retirees affected by employer insolvency. As a starting point, stakeholders are invited to provide their further comments and views on previously-provided proposals, including enhanced protections for employee and pension claims in insolvency, such as:

amending insolvency legislation to ensure that:

unfunded pension liabilities are paid ahead of the claims of secured creditors; and

employee claims for the termination of employee benefits in insolvency proceedings are paid before secured creditor claims (sometimes referred to as a "super priority").

In addition, stakeholders are invited to provide their considered comments and views on the following particular options.

Pension Options

Solvency reserve accounts (SRAs): A SRA is an account of the pension plan into which companies could remit solvency special payments to eliminate pension deficits. Once the deficit is eliminated and the plan is in surplus, employers would be permitted to recover portions of their special payments from the SRA, in the form of plan surplus, that are no longer required to secure pension benefits. Allowing for SRAs would provide greater flexibility for employers when meeting their pension funding obligations and could provide greater incentive for companies to keep their pension plans well-funded by allowing employers to access certain surplus. To protect benefit security, employer withdrawals from the SRA would not be permitted to create a funding deficit.

Pension funding relief criteria: The Minister of Finance has the authority to provide employers with special pension funding relief to improve the long-term sustainability of their pension plans. This can help avoid the scenario of employer insolvency and the termination of an underfunded plan. To enhance the Minister's authority in this regard and improve corporate responsibility, employers seeking funding relief could be required to agree to certain specified criteria or conditions, such as a prohibition of dividend payments while pension funding relief measures remain in place. However, in complex cases, employer insolvency and benefit reductions may be unavoidable.

Transfers to self-managed accounts: When a federally regulated DB plan is terminated, it must purchase annuities for retirees that replicate plan benefits. Where plans are underfunded due to employer bankruptcy, purchasing annuities leads to permanently reduced benefits. Retirees could be provided with an additional option to transfer their reduced pension amount, as a lump sum, to a personally managed locked-in savings plan in order to allow for recoupment of losses through future investment returns. However, this would expose retirees to further risks, such as investment losses and the possibility of outliving their retirement savings.

Clarify benefit entitlement: Federal pension legislation provides that members are entitled to their accrued pension benefits, with the intent that the full pension benefits are to be provided regardless of whether the plan remains ongoing or is terminated. Nevertheless, it has been suggested that the legislation may be unclear in this respect, leading some plan sponsors to propose amendments that would provide for different benefits on plan termination compared to while it remains ongoing (e.g., indexation only payable on plan termination if sufficient assets remain in the plan). This could result in members experiencing reductions for those benefits if a plan is terminated underfunded, particularly in an insolvency situation. In order to ensure that all pension benefits are afforded equal protection regardless of whether the plan is ongoing or terminated, the legislation could be clarified to provide explicitly that entitlement to pension benefits cannot be made conditional on the continued operation of the plan. Alternatively, amendments would be required to provide flexibility for DB pension plans to offer different benefits in different circumstances in pursuit of plan-specific objectives, such as addressing affordability and sustainability issues that may be critical to the employer.

Corporate Governance Options

Restrictions on corporate behavior: Dividend payments, share redemptions and executive compensation packages could be restricted under the CBCA in cases where a company has a large pension deficit. However, these proposals would apply only to CBCA corporations.

Increased corporate reporting and disclosure requirements: Currently, the CBCA requires corporations to make annual reports and disclosures to shareholders regarding corporate financial information. Recent CBCA amendments, while not yet in effect, will also require publicly-traded corporations to disclose to shareholders prescribed information pertaining to diversity among the board and senior management, and on diversity policies.In order to strengthen corporate social responsibility towards employees and pensioners, the CBCA could be amended to require corporations to report on policies that pertain to the interests of workers and pensioners, and require directors to promote the company's success for the benefit of all its stakeholders, including pensioners and employees. As with other potential federal corporate governance changes, only CBCA corporations would be affected.

Insolvency Options

Enhanced "look-back" period: The BIA allows a court to set aside dividend payments or share redemptions made by an insolvent corporation within one year of the bankruptcy. The BIA and CCAA also allow a court to set aside reviewable transactions (transfers at undervalue) by the debtor company up to five years before insolvency. In order to enhance corporate accountability and better align corporate decision making with pensioner interests, the "look-back" period in the BIA and the CCAA could be enhanced to include the power for a court to set aside executive bonuses and compensation increases where a company with unfunded pension liabilities enters insolvency within a fixed period. The proceeds recovered could be earmarked for funding pension obligations. However, the proposal could create marketplace uncertainty as executives and shareholders would face greater risks of retroactive claw backs.

Enhanced transparency in the CCAA process: In CCAA proceedings, the debtor company can negotiate with its creditors under court supervision on an agreement to restructure its debts. Pensioner interests in restructuring proceedings may be affected by limitations in the current court-supervised process. To better ensure fairness and equity for pensioners and employees, as well as to enhance transparency, the following amendments to the CCAA could be considered:

increasing participation for pensioners and employee groups at the outset of proceedings by limiting the scope of initial orders;

enhanced transparency for all creditors by requiring creditors to disclose their real economic interests; and

creating a more equitable process by imposing an express duty of good faith on all parties to the restructuring.

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Enhancing Retirement Security for Canadians: Consultation Document

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The Government believes that all Canadians deserve a safe, secure and dignified retirement, however in recent years company insolvencies have raised concerns about the security of pension, wage and benefit entitlements for workers and retirees.

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This website is about Canada Pension Plan also known as CPP. Here, you'll see the overview of CPP, the background, changes the government has made and how that would affect Canadians.

The reason I chose this website is because it provides specific details outlining CPP, how to calculate you retirement, and find out what you can receive from CPP. A lot of information is provided and most Canadians do not know that information.

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Ontario.ca needs JavaScript to function properly and provide you with a fast, stable experience.

To have a better experience, you need to:

1. Go to your browser's settings

2. Enable JavaScript

Le site Ontario.ca exige JavaScript pour fonctionner comme il faut, avec rapidité et stabilité.

Pour avoir une meilleure expérience, vous devez :

1. Accéder aux paramètres de votre navigateur

2. Activer JavaScript

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Ontario.ca needs JavaScript to function properly and provide you with a fast, stable experience. To have a better experience, you need to: Go to your browser's settings Enable JavaScript Le site Ontario.ca exige JavaScript pour fonctionner comme il faut, avec rapidité et stabilité.

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My last website is a survey of Financial Security. The purpose of the survey is to collect information from a sample of Canadian households on their assets, debts, employment, income and education. The SFS provides a comprehensive picture of the financial health of Canadians. Information is collected on the value of all major financial and non-financial assets and on the money owing on mortgages, vehicles, credit cards, student loans and other debts.

The reason I chose this website is because it provides us the statistics of a family's net worth that can be thought of as the amount of money they would be left with if they sold all of their assets and paid off all of their debts.

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Detailed information for 2019

The purpose of the survey is to collect information from a sample of Canadian households on their assets, debts, employment, income and education. The SFS provides a comprehensive picture of the financial health of Canadians. Information is collected on the value of all major financial and non-financial assets and on the money owing on mortgages, vehicles, credit cards, student loans and other debts.

Data release - December 22, 2020

Description

The SFS provides a comprehensive picture of the net worth of Canadians. Information is collected on the value of all major financial and non-financial assets and on the money owing on mortgages, vehicles, credit cards, student loans and other debts. A family's net worth can be thought of as the amount of money they would be left with if they sold all of their assets and paid off all of their debts.

The survey data are used by government departments to help formulate policy, the private sector and by individuals and families to compare their wealth with those of similar types of families.

Collection period: Starting in 2012, the collection period lasts 3 months, from beginning of September to beginning of December.

Subjects

Household assets, debts and wealth

Income, pensions, spending and wealth

Data sources and methodology

Target population

The target population for the SFS is families across the ten provinces of Canada.
Excluded from the survey are:
- the territories,
- those living on reserves and other Aboriginal settlements,
- official representatives of foreign countries living in Canada and their families,
- members of religious and other communal colonies,
- members of the Canadian Forces living in military bases,
- people living in residences for senior citizens, and
- people living full time in institutions, for example, inmates of penal institutions and chronic care patients living in hospitals and nursing homes.
These exclusions represent approximately 2% of the population.

Instrument design

Qualitative testing was carried out by Statistics Canada's Questionnaire Design Resource Centre (QDRC) for selected modules of the survey questionnaire, while questions for the remaining modules came from other Statistics Canada surveys. Questions adhere as closely as possible to content established by the Harmonized Content Committee at Statistics Canada.

The questionnaire follows standard practices and wording used in a computer-assisted interviewing environment, such as the automatic control of flows that depend upon answers to earlier questions and the use of edits to check for logical inconsistencies and capture errors. The computer application for data collection was tested extensively.

Sampling

This is a sample survey with a cross-sectional design.

Each province is stratified into rural and urban areas and a different design is used in each. In rural areas, a multi-stage sample was selected using the Labour Force Survey area frame. In urban areas, a stratified sample was selected from the Dwelling Universe File (DUF). Information from the T1 Family File (T1FF) is used for stratification which improves the efficiency of the urban part of the sample.

All families residing in the selected dwellings were included in the sample.

Sampling unit:
In urban areas, where a stratified single-stage design is used, the sampling unit is the dwelling.

In rural areas, where the LFS area frame is used in a multi-stage design, geographic areas referred to as LFS clusters are the sampling unit at the first stage and dwellings selected within these clusters are the sampling unit at the second stage.

Stratification method:
The first level of stratification is by province and each province is further stratified into rural and urban areas. Two independent samples are drawn within each province, one from each of these strata.

In rural areas, a multi-stage sample was selected using the Labour Force Survey area frame. The LFS stratification into large geographic strata is used during first stage selection of clusters.

In urban areas, information from the T1 Family File (T1FF), such as age and income, is used to stratify the Dwelling Universe File (DUF), into groups of dwellings predicted to have similar net worth.

Sampling and sub-sampling:
The SFS sample consists of 20,010 dwellings, 13,435 dwellings selected from the urban strata and 6,575 dwellings within 704 clusters from the rural strata.

The allocation takes into account the different sample designs in urban and rural areas. In addition, to improve the quality of the estimates, higher net worth strata are oversampled compared to lower net worth strata in the urban areas.

Data sources

Data collection for this reference period: 2019-09-09 to 2019-12-14

Responding to this survey is voluntary.

Data are collected directly from survey respondents, extracted from administrative files and derived from other Statistics Canada surveys and/or other sources.

Collection method:
CAPI (computer-assisted personal interviewing)

Capture method:
Blaise

Initial contact:
Introductory letter sent to the respondents

Follow up:
Interviewer visits/calls respondents

Proxy reporting:
Yes

Languages offered:
English and French

Average time of interview:
45 minutes

Administrative data source:
Income tax Records file (T1 Family File (T1FF))
Administrative Personal Income Masterfile (APIM)

Other source: Pension Plans in Canada (PPIC)

To reduce response burden, information from personal tax data and the Pension Plans in Canada survey are used.

View the Questionnaire(s) and reporting guide(s) .

Error detection

The computerized questionnaire contains many features designed to maximize the quality of the data collected.

Many edits are built into the questionnaire to compare the reported data with unusual values and detect logical inconsistencies.
When an edit fails, the interviewer is prompted to correct the information (with the respondent's help, if necessary).

Once the data are transmitted to Head Office, a comprehensive series of processing steps are undertaken for the purpose of detailed verification of each questionnaire.
Invalid responses are corrected or flagged for imputation.

Edits were applied at a micro level.

Deterministic edits and consistency edits were also performed at the micro level. Data was checked for outliers and extreme values, and were corrected at a micro level when required.

Imputation

For income data, all respondents are matched to the tax data file unless they refuse to have their information linked. Income tax information comes from the Administrative Personal Income Masterfile (APIM), which is created from tax slips such as the T1 and T4. Partial imputation is performed for APIM records that have some information from tax slips but that did not file their taxes and hence do not have a T1. Complete imputation of income variables is required when the respondent could not be linked to the administrative data. Imputation is performed using donor imputation with the nearest neighbour method. The imputation is performed using Statistics Canada's Census Edit and Imputation System (CANCEIS).

Imputation is also performed for other key variables when information is missing. The imputation of the non-income variables was also done primarily using the nearest neighbour imputation method. In some cases deductive imputation was also used. The imputation is performed in several steps. Variables in the same sections of the questionnaire or in related sections of the questionnaire are often imputed together. An appropriate set of matching variables and imputation classes are determined for each group of variables processed together. Statistic Canada's CANCEIS, as well as custom SAS programs were used to perform the imputation of the non-income variables.

Imputation is used to handle item nonresponse for many, but not all, variables. Variables not subject to imputation retain missing values in the form of "Don't Know", "Refusal" and "Not Stated" reserved codes. Imputation rates for questions which applied to the majority of respondents tended to be low, but items that applied only to a small percentage of respondents sometimes had fairly high imputation rates indicating that the respondents were having much more difficulty answering or were less willing to provide answers to these questions.

More information about the imputation rate for questions on the SFS can be obtained by requesting the SFS Quality report. To obtain this documentation, contact Client Services (613-951-7355, STATCAN.income-revenu.STATCAN@canada.ca).

Estimation

An integrated weight, meaning that all household members are given the same weight, is produced for SFS. The weighting process begins by calculating design weights separately for the urban and rural parts of the sample. The weights are then adjusted for non-response separately within each sample. After non-response adjustment, the weights are combined into a single file. Next, the weights undergo an initial calibration to known population totals. The totals comprise the following: demographic projections produced by Statistics Canada's Demography division based on the 2016 Census, the number of wage and salary earners by several wage and total income classes by province based on APIM 2018 Prelim administrative file, and the number of people with registered pension plans by province based on totals from PPIC 2019. Influential observations are then identified, and weights are reduced for a small number of extreme observations. To complete the process, calibration is then repeated a second time with the condition that the influential observations do not have their weights adjusted any further. The resulting weighted units represent the entire SFS target population.

Variance is estimated using the Rao-Wu-Yue method with 1,000 bootstrap replicate weights. To determine the bootstrap weights, 1,000 initial replicates are created, and each replicate undergoes the same adjustment process as the survey weights.

Quality evaluation

Data are compared to the results of other data sources: Census, administrative data and other Statistics Canada surveys.

Direct comparisons with outside sources, such as the Financial and Wealth Accounts of the System of National Accounts, are difficult to make due to definitional, coverage and treatment differences. However, based on rough comparisons the following general conclusions can be drawn:

(a) SFS appears to underestimate some net worth components, particularly financial assets and consumer debt.

(b) The quality of estimates of real assets (e.g., owner-occupied homes, vehicles) is much better than that of financial assets.

The SFS is designed to describe the financial situation of the majority of Canadian families, using a methodology that has remained stable over time, allowing for the description of levels and trends. It is designed to create reliable estimates of the top 5% of the net-worth distribution. The sample size of the SFS is insufficient to have representative sample of economic families with very high wealth.

Disclosure control

Statistics Canada is prohibited by law from releasing any information it collects which could identify any person, business, or organization, unless consent has been given by the respondent or as permitted by the Statistics Act. Various confidentiality rules are applied to all data that are released or published to prevent the publication or disclosure of any information deemed confidential. If necessary, data are suppressed to prevent direct or residual disclosure of identifiable data.

Suppression rules are applied to the various tables of SFS estimates to ensure respondent confidentiality and data quality. For example, estimates are rounded (to the nearest hundred for medians) and estimates based on less than 30 estimates are suppressed.

Revisions and seasonal adjustment

This methodology type does not apply to this survey.

Data accuracy

The quality of estimates produced with SFS data is measured using 95% confidence intervals. When comparing estimates, it is important to use confidence intervals to determine if differences between values are statistically significant. Confidence intervals describe sampling variability and give an indication of the precision of a given estimate.

The width of the confidence interval depends on the domain of interest and on the prevalence and variability of the characteristic.

In SFS 2019, the 95% confidence interval for the average net worth of Canadian families had a width of $47,000.

More information about the quality of estimates produced using the SFS can be obtained by requesting the SFS Quality report. To obtain this documentation, contact Client Services (613-951-7355, STATCAN.income-revenu.STATCAN@canada.ca).

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The purpose of the survey is to collect information from a sample of Canadian households on their assets, debts, employment, income and education. The SFS provides a comprehensive picture of the financial health of Canadians. Information is collected on the value of all major financial and non-financial assets and on the money owing on mortgages, vehicles, credit cards, student loans and other debts.

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Here, the Government of Canada give you eight e-learning videos complement the Financial Basics Workshops material. These are an easy and accessible alternative way to boost financial knowledge and plan a more secure financial future. You can use them as part of a Financial Basics workshop, or watch them on your own.

The reason I chose this website is because of the information it has on one website. It is easy and straight forward, providing those with the basics.

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These eight e-learning videos complement the Financial Basics workshop material. They are an easy and accessible alternative way to boost financial knowledge and plan a more secure financial future. You can use them as part of a Financial Basics workshop, or watch them on your own.

The first seven videos cover topics such as budgeting, credit, debt, saving and investing, financial planning and protecting yourself from fraud. The eighth video gives tips and answers questions about planning and delivering the best Financial Basics workshop.

The Financial Basics e-Learning Project was jointly developed by The Chang School at Ryerson University and the Financial Consumer Agency of Canada with the assistance of the Ontario Securities Commission.

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financial basics workshop; workshop materials;  financial literacy; budget; credit; debt; saving; investing; financial plan; fraud protection

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These eight e-learning videos complement the Financial Basics workshop material. They are an easy and accessible alternative way to boost financial knowledge and plan a more secure financial future. You can use them as part of a Financial Basics workshop, or watch them on your own.

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This website, gives you five tips to deal with financial worries that can affect you mental health. Managing our money is never an easy task, but there is help available to reduce the financial stress that affect your mental health. You can't have financial security if you aren't mental prepared for it.

I chose this video simply because it gives you tips on how to manage you mental health when it related to your financials overall.

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5 tips tips to deal with financial worries that affect your mental health

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Old Age Security, commonly referred to as OAS, provided a base level of retirement income to over 6 million Canadians as of January 2019. While the majority of Canadians likely won’t be eligible to receive this for decades, it’s worth knowing about when planning for your own retirement.

The reason I chose this video is because it explains Old Age Security (OAS) for those who are audio learning and may not understand the big words that are on the Government of Canada's website.

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This video will discuss the foundation of many Canadians’ retirement is the Canada Pension Plan. The CPP is designed to replace a certain amount of your average work earnings, up to maximum limits each year.

The reason I chose this video is because it explains CPP for those who are audio learning and may not understand the big words that are on the Government of Canada's website.

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I chose this image because it shows you the magic number for retirement savings according CIBC survey. While that is the average amount individual Canadians believe they’ll need to amass, up to 90% don’t have a formal plan on how to get there.

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I chose this image because the reality is I do not know if CPP with be around when it is time for me to retire. Two in three Canadians either don’t believe or aren’t confident that the Canada Pension Plan (CPP) will be around when they retire, according to a 2016 survey.

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1. What did you learn about your topic that surprised you the most?

A. What I've learned about my topic that surprised me the most is that there may not be any Canadian pension plan when I'm ready to retire. I've personally set aside are there retirement savings accounts to ensure that I have something to fall back on when it's my turn to retire I'm also looking at other options just to be on the safe side.

2. Provide a real-life example of how this topic is relevant or interesting for you.

A. Over the last year the pandemic has really hit the world. Some Canadians took early retirement or just retired because they didn't want to deal with virus in the workplace. At my job, a lot of the health care workers took retirement to secure the amount of CPP they would receive because they think once the world is somewhat back to normal that CPP and OAS  will be cut therefore they wouldn't receive fee amount they thought they would get.

3. If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

A. I think the most important thing I could pass on to a friend or a family member is to not put all your eggs in one basket. Make sure you have other retirement plan in place just in case, have a budget, and live within your means.