Notes
Location: Calgary, Alberta
Key recommendations
Policy makers and service providers must demonstrate awareness of culturally diverse approaches to financial management in order to develop a better understanding of how older immigrants make their financial decisions and practices
Key findings
Immigration and migration programs deem some senior immigrants ineligible for state services and support.
The dependency clauses within the past and current iterations of the Parent and Grandparent Program, which require sponsors to be financially and socially responsible for their older parents and grandparents for a period of 20 years, is particularly challenging to older immigrants who were sponsored by their adult children. These dependency clauses hinder late life activities.
Participants’ experiences suggest that financial literacy is more than management of finances, but rather lifetime (in)access to funds both in the labour force and through retirement provisions, and multidirectional care responsibilities in the homeland and in Canada.
Key populations
Senior immigrants
Community organizations
Calgary Catholic Immigration Society, Calgary United Way, Calgary Korean Scholarship Foundation, and Artem Financial Ltd.
Integration timeline
At what point during the integration process the study was conducted?
NA
Publisher: Canadian Ethnic Studies Association