Helping low-income clients retire successfully- Free Course

Financial planners and advisors want to better the lives of the people they work with, but may not know that conventional retirement advice often doesn’t work for low-income retirees.

Getting it right when every dollar counts

The advice that works well for higher- and middle-income clients can work against lower-income retirees – meaning they lose out on government benefits and must live on less, even though every dollar counts when you’re living on a low income. That’s why there’s a new CE-accredited course available at no charge for anyone who wants to learn how to help low-income retirees plan for and make the most of their retirement income. Although the course was developed for financial advisors and planners, it is open and available to all.

Learn from seasoned experts

Based on the work of John Stapleton of Open Policy Ontario and developed by Certified Financial Planner professional Alexandra Macqueen, the course is hosted and was accredited by Business Career College, a We Know Training brand and a leader in training for the financial services and insurance industries.

The course includes:

● Accreditation for 5.5 CE credits with FP Canada, Advocis, and IIROC
● Working knowledge of the government benefits programs available to low-income retirees
● A look at the savings and investing options available to low-income retirees and how to optimize client situations
● Guidance about the impact of earned income and taxes on low-income retirees
● A series of case studies, plus recorded conversations with financial planners about how planning for low-income retirees works in practice

To take the course:

1. Go to www.businesscareercollege.com
2. Either sign in (if you have an account) or Sign Up (near the top right) to create a free account. You'll then have to "Create Learner Account."
3. Once logged in, there is a yellow button near the top right of the screen called "Enrolment Key." Click here and provide the Enrolment Key retiring-on-low-income-indigo-2771 (an exact copy and paste is probably ideal)



Low Income Retirement Planning

This booklet contains information on retirement planning on a low income. Topics include four things to think about for low income retirement planning, a background paper on maximizing the Guaranteed Income Supplement (GIS), and determining Old Age Security (OAS) and GIS eligibility for people who come to Canada as adults.



How does the Canada Emergency Response Benefit (CERB) impact eligibility of provincial benefits?

This policy backgrounder provides an overview of how provincial and territorial governments have decided to treat receipt of the Canada Emergency Response Benefit (CERB) for those receiving social assistance and/or living in subsidized housing. It also looks at provisions for youth aging out of care during the COVID-19 pandemic.



Voice of Experience: Engaging people with lived experience of poverty in consultations

The engagement of Canadians with lived experiences of poverty in government consultations on poverty reduction is critical. But as hard as governments work to try to include people living in poverty as full participating members in their consultation processes, there are many barriers that continue to impede their participation. This paper explores what these barriers and impediments are.

Retiring on a low income: Learnings


This is a webinar presentation recorded with John Stapleton at Prosper Canada on October 4th, 2016. John Stapleton is a Principal of Open Policy, and has worked for the Ontario Government for 28 years in the areas of social assistance policy and operations.

In the session John describes the differences between non-refundable and refundable tax credits, deductions, exemptions, and entitlements. He also reports on his learnings from presenting on tax credits and retiring on a low income to local Ontario audiences.

This is the webinar video recording.

For more information on retiring on a low income, including John’s updated toolkit with 2018 information, please visit: Open Policy Ontario.

 




The Cost of Poverty in Toronto

Planning to retire on a low income: What you need to know

Low Income Retirement Planning: Four things to think about & Maximizing GIS

Welcome to the financial mainstream? The hazards facing low income people when navigating the financial world

Planning for Retirement on a Low Income

Low-income people need savings and retirement strategies that won’t leave them worse off in their senior years. The purpose of this paper is to educate people who help low-income adults plan for their financial future. Our aim is to put GIS planning at the centre of the pre-retirement discussion for these singles and couples. Far too many low-income people have failed to get good advice about filing their taxes and applying for a program to which they are entitled. The effect of this is to take millions of retirement dollars off the table for Canada’s most vulnerable seniors.



Retiring on a Low Income – Learnings from the Toronto Library and The Ontario Non-Profit Housing Association Presentations

The Working Poor in the Toronto Region: Mapping working poverty in Canada