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For 10 years, the FAPS Program has worked with low-income people to address their financial issues, including financial literacy and exclusion.

Filing a tax return is critical for low-income Canadians given that income tax and government benefits are inherently intertwined.

Most financial information and retirement advice available is conceived with middle or higher-income Canadians in mind. When we look at retirement planning from a low-income perspective, however, we can see how mainstream information and advice doesn’t always apply and can actually be harmful to the overall well-being of Canadians approaching retirement age or already retired.

The Great Recession of 2008 detonated an explosion of interest in financial literacy in most industrialized countries, including Canada. However, the force of the explosion in our country, at least at the federal level, has waned considerably since then.