The impact of financial loss on an older Canadian can be life altering”, said Bill VanGorder, Chief Operating Officer of C.A.R.P. in a letter to the Independent Evaluation of the O.B.S.I. (Ombudsman

for Banking Services and Investments). The review is looking into how Canada deals with Investment Related Complaints. C.A.R.P. believes that retirees, seniors deserve an independent, accessible, and effective financial ombudsman service.

 

Any undue losses older Canadians incur cannot readily be recouped. “With increased longevity, more seniors will face financial hardship and require taxpayer-supported social benefits,” said VanGorder. 

See C.A.R.P.’s letter to the evaluator HERE.