David McGuinty

Your member of parliament for


Ottawa South

David McGuinty

Your member of parliament for


Ottawa South

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David McGuinty announces support for community-based project to increase seniors’ financial literacy

April 29, 2019, Ottawa

Seniors make significant and valuable contributions to their families, communities and workplaces. Through the New Horizons for Seniors Program (NHSP), the Government of Canada continues to meet the needs of seniors by supporting initiatives that encourage them to stay active and involved in their communities.

Today, the Honourable David McGuinty, Member of Parliament for Ottawa South, announced an investment of $5,000 provided to the Ottawa Branch of the National Association of Federal Retirees (Federal Retirees) for a project that will help their members improve their financial literacy. With this support, Federal Retirees will organize workshops, seminars and town halls to educate members on the risks associated with financial abuse, and provide tools and resources to help them make informed financial decisions. Support for this project is provided by the New Horizons for Seniors Program, whose goal is to foster social inclusion and engagement of seniors in all aspects of society.

Financial abuse is one of the most common forms of elder abuse in Canada and can be difficult to recognize. The Government of Canada takes fraud against seniors very seriously and is working hard to ensure that appropriate measures are in place to protect seniors and ensure they know the risks. For example:

  • The Financial Consumer Agency of Canada (FCAC) is engaging with banks and seniors’ groups to create a code of conduct that will guide banks in their delivery of services to seniors.
  • The Government of Canada has introduced legislation to strengthen consumers’ rights when it comes to banking, and to strengthen the tools and mandate of FCAC to protect financial consumers.
  • FCAC is also leading the Strengthening Financial Literacy of Seniors strategy, which includes the goal of helping seniors protect themselves from fraud and financial abuse, through education and awareness.
  • The Government of Canada is investing in community-based projects through its New Horizons for Seniors Program (NHSP) to help inform and educate seniors about potential scams and fraud.

Quotes

“Through the New Horizons for Seniors Program, we work with partners to increase seniors’ financial literacy and help prevent fraud. By supporting projects that help Canadian seniors make better, informed financial decisions, the Government of Canada provides seniors with greater security and a better quality of life now and into the future.”
– The Honourable David McGuinty, Member of Parliament, Ottawa South

“The Ottawa Branch of Federal Retirees is very excited to be receiving its first-ever grant under the New Horizons for Seniors Program,” said President of the Ottawa Branch, Robert Giroux.” Building on the success of our pilot financial literacy initiatives, we plan to expand our program and reach even more members to help them improve their financial decision-making and reduce the very real risk of seniors’ financial abuse.”

Quick Facts

  • Seniors are the fastest-growing demographic group in Canada. By 2030, the number of seniors will reach 9.6 million people, representing close to one quarter of Canada’s population.
  • Every year organizations are invited to apply for NHSP community-based funding through a call for proposals. The project funding announced today was approved as part of a call for proposals that launched on May 7, 2018, and closed on June 22, 2018.
  • Community-based projects are eligible to receive up to $25,000 in grant funding and, as of this year, up to $5,000 in new small grants funding for organizations that have not received funding within the last five years. Ottawa Branch of Federal Retirees received one of these new small grants.
  • A total of approximately $35 million has been approved across Canada for NHSP community-based projects in 2018–2019.
  • Community-based project funding supports activities that engage seniors and address one or more of the program’s five objectives: volunteering, mentoring, expanding awareness of elder abuse, social participation and capital assistance.
  • Ottawa Branch of Federal Retirees is a non-profit organization, serving over 34,600 members in the Ottawa area. These are active and retired members of the federal public service, Canadian Armed Forces and the RCMP, retired federally appointed judges, and their partners and survivors.
  • The Association’s main mission is to advocate for the protection of members’ pensions and retirement benefits. Ottawa Branch also provides information, activities and events for its members to promote their financial security, health and well-being.

Related Products

Backgrounder: New Horizons for Seniors Program
Backgrounder: Providing seniors in Canada with greater security and a better quality of life

Associated Links

New Horizons for Seniors Program – Engaging Seniors, Strengthening Communities
Funding: New Horizons for Seniors Program – Community-based projects
Financial abuse of seniors: It’s time to face the reality

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