Peter Nares

Biography

A graduate in English and social work from Carleton University and York University respectively, Nares' contribution to social services started in 1974 as a child care worker. In 1979, he began his career in social policy with the Ontario Social Development Council (OSDC), where he worked for 16 years. Nares first started SEDI as a division of the OSDC with the organization later evolving into an independent national nonprofit in 1995. Under his leadership, SEDI has helped shape important social policies in Canada.

In 2009, the Canadian government announced its plan to establish a financial literacy task force, a measure recommended by Nares and SEDI. The independent, multi-sectoral task force will make recommendations to the minister of finance on a national strategy for financial literacy. With this initiative, Canada will join a growing list of countries including the United Kingdom, the United States, Australia and New Zealand that have developed national strategies to improve the financial literacy of their citizens.

In 1992, Nares' program to provide entrepreneurship training to the unemployed was incorporated into Canada's Employment Insurance legislation. In 2000, SEDI received support from the federal government to develop and test learn$ave. A nationwide pilot program and the largest demonstration of Individuals Development Accounts in the world, learn$ave uses a matching savings system to help low-income earners save for long-term assets such as post-secondary education, job skills training and self-employment. In seven years, the 3,609 participants of the program saved over $3.7 million.

Since the late 1990s, when Peter introduced financial literacy and asset building to Canada, these concepts have been incorporated into local, provincial and federal policies.

Accolades

In 2008, Nares was awarded an Ashoka Senior Fellowship for his innovative work in socio-economic development in Canada.