In Canada, Prime Minister Stephen Harper has appointed a 13-member task force to improve financial literacy among Canadians.

The task force will set up a camp in the city for this purpose.

Sun Life CEO Donald Stewart told a news conference, "More than one in three Canadians are struggling or cannot keep up with their finances. It is time to make financial literacy a priority".

To initiate the conversation, the task force released a discussion paper that summarized the key issues it wants Canadians to think about in areas such as retirement, saving, debt, home ownership, paying for post-secondary education and financial fraud.

They are encouraging people for their feedback through mail or comment on its website.

A consultation document says, "A financially educated population will be better able to weather economic downturns, as well as benefit from periods of growth".

The 13-member task force includes members from the financial industry, credit counselling agencies, academia and financial planners.

It aims to present its recommendations to Finance Minister, Jim Flaherty by the end of the year.