September 24, 2014
Welcome to the 2014 Canada Savings Bonds (CSB) Payroll Savings Program!
Saving for a rainy day is not always easy. That’s why the University of Toronto participates in the Canada Savings Bonds (CSB) Payroll Savings Program – a service that helps our employees reach their financial goals.
Why Enrol in the Payroll Saving Program?
The Canada Savings Bonds (CSB) Payroll Savings Program allows employees to contribute to a Payroll Savings Plan at their place of work through automatic payroll deductions.
Specifically, this provides U of T employees with:
- A free and secure way to save for themselves or a loved one;
- An easy way to save money for things they really want, big or small – employees can contribute as little as $2 per week;
- Access to an online account. Without hassle. Without fees; and,
- Access year-round to their money online.
Enroling in the 2014 Program
Employees may sign up for the 2014 Payroll Savings Program between October 1 – November 1, 2014.
The deadline to setup a new account or make changes to an existing plan is November 1, 2014, 8:00 p.m. ET.
Organization ID: 12212 (GOVERNING COUNCIL OF THE UNIVERSITY OF TORONTO)
To set up a new Payroll Savings Plan:
- Visit CSB Online Services and
- Use the Employee How To Guide to get step by step instructions.
The University of Toronto Organizational ID number is: 12212.
Some the benefits of the Payroll Savings Program include:
- One time sign-up:
Employees sign up only once. Your contributions will start with your first pay in December and continue until you want to make a change or stop contributing.
- Easy to Access:
Go to http://www.csb.gc.ca/payroll-savings-program/employees/ to access CSB Online Services. All common transactions such as registration, contributing to a plan, and redemption can be done through one website.
For as little as $4 per biweekly pay period and $8 per monthly pay period, you can contribute to a plan by automatic deductions from your pay.
- Easy to access your savings:
You can access your money any time online.
Existing Payroll Plan Owners
If you are already participating in the Payroll Savings Program, you can visit CSB Online Services to access your existing Canada Savings Bonds Payroll Savings Program account.
Direct Deposit Online Enrollment for Single Plans
Direct Deposit is a fast and convenient way for employees to access their funds. Employees with a Single Plan can sign up for Direct Deposit online by logging in to their CSB Online Services account as mybonds.gc.ca.
For Joint or Third-Party Plans, employees must complete the Change of Address and Direct Deposit Form found on http://www.csb.gc.ca/.
When you log on to CSB Online Services, you can:
- Change your contributions and set up new plans (during the sale campaign only);
- Redeem your CSB’s;
- Check your plan balances;
- Sign up for online statements;
- View and print T5 slips;
- Change your address; and,
- Change your account details
If you have any questions on setting up a new Canada Savings Bonds Payroll Savings Program account or making changes to your existing account, contact Canada Savings Bond’s program at 1.877.899.3599; or visit Canada Saving Bond’s website.