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The New Face of Financial Empowerment in Canada: Women 55+ Lead the Charge

HomeEquity Bank
Monday at 9:15am AST · November 3, 2025 4 min read

HerMoneyMatters Virtual Event to Build Confidence, Community and Financial Literacy for Women 55+

TORONTO, Nov. 3, 2025 /CNW/ – Older Canadian women are breaking down financial barriers to close persistent gaps in financial literacy by growing their confidence and demonstrating a willingness to seek trusted advice.

This Financial Literacy Month, HomeEquity Bank is addressing these gaps head-on with HerMoneyMatters: Building Confidence, Community and Financial Literacy, a virtual panel event celebrating the strides women 55+ are making in financial empowerment, while providing actionable strategies to build even greater financial literacy.

“Today, older women are taking control of their story, proving that financial literacy education isn’t just for the young: it’s for the empowered,” said Yvonne Ziomecki-Fisher, Chief Customer, Brand and Advice Officer, HomeEquity Bank. “At HomeEquity Bank, we believe retirement should be a time of thriving, not just surviving. This event will celebrate the strides women are making and inspire them to take the next step.”

Older Women Are Changing the Game

Research conducted by Ipsos for HomeEquity Bank reveals how women 55+ are balancing growing confidence with cautious decision-making:

  • Confidence grows with age: 63 per cent of women under 35 wish they were more confident in their financial decision-making, compared to just 36 per cent of those over 65.
  • Bridging the gap: Financial literacy gaps stubbornly persist between men and women. According to Ipsos’ Canadian Financial Monitor research, 49 per cent of women 65+ have high financial literacy vs 65 per cent of men, with similar gaps in the 55-64 age group.
  • Clear advice matters: 60 per cent of women 55+ say there can be things done to make them more confident in managing their finances, including access to trusted financial advisors, jargon-free information and a safe space to ask questions. Note that nearly half (47%) of women 55-64 like to regularly consult a professional advisor on financial matters.
  • The taboo of money conversations persists: Two-thirds (66%) of women 55+ report feeling uncomfortable discussing money with friends or family, with 45 per cent citing privacy concerns and nearly a quarter (23%) saying they were simply “not raised to talk about money.”
  • Legacy far from a universal concern: Less than 2 in 10 (18%) women 55+ hesitate to use their home equity because they want to preserve their home for their family and a further 11% per cent hold back because of concerns with costs or fees.

“Financial empowerment isn’t just a destination; it’s a journey,” said Pattie Lovett-Reid, HomeEquity Bank’s Chief Financial Commentator. “I’ve seen firsthand how, when women lead these discussions, and engage in dialogue around money and finances, it signals to others that financial literacy is for everyone and no question is off-limits.”

Breaking Down Barriers, Building Confidence

HomeEquity Bank’s HerMoneyMatters webinar, is designed to build a bridge to high financial literacy and confidence. The panel will encourage open dialogue and equip attendees with actionable insights for managing risk, planning (the rest of) their retirement and overcoming the fear and taboos that so often accompany financial conversations. Featured panelists include:

  • Linda Nazareth, Economist and Author
  • Sarah Widmeyer, SVP Wealth Strategies, Richardson Wealth
  • Pattie Lovett-Reid, Chief Financial Commentator, HomeEquity Bank

To register to watch the session live at 3:00 p.m. ET on Thursday, November 6 or on-demand at a later date, visit www.chip.ca/financial-literacy.

About HomeEquity Bank

HomeEquity Bank is a Schedule 1 Canadian Bank offering a range of reverse mortgage solutions, including the flagship CHIP Reverse Mortgage product. The company was founded more than 35 years ago to address the financial needs of Canadians who wanted to access the equity of their top asset — their home. The Bank is committed to empowering Canadians aged 55 plus to live the retirement they deserve, in the home they love. HomeEquity Bank is a portfolio company of Ontario Teachers’ Pension Plan Board, a global investor that delivers retirement income for 340,000 current and retired teachers in Ontario. For more information, visit www.chip.ca.

About the Study

These are the findings of an Ipsos survey conducted on behalf of HomeEquity Bank that was fielded between October 9-14, 2025. A total of n=1,500 Canadians aged 18+ participated in the survey which was fielded via the Ipsos’ panel. Quotas and weighting were used to ensure the sample’s composition reflects that of the Canadian population according to census parameters. This survey has a credibility interval of +/- 2.7 per cent 19 times out of 20, of what the results would have been had all Canadians over 18 been surveyed. This survey was complemented by the Canadian Financial Monitor (CFM), initiated in 1999, which comprehensively examines the financial well-being, banking habits, financial holdings, and attitudes of Canadians through a robust annual sample of 18,000 individuals aged 18 and above.

SOURCE HomeEquity Bank

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