Payroll savings program
From Oct. 1 until Nov. 1 all full-time staff and faculty at the U of M may apply to the Canada Savings Bonds Payroll Savings Program.
The Canada Savings Bonds (CSB) Payroll Savings Program allows employees to contribute to a Payroll Savings Plan at their place of employment through automatic payroll deductions.
As the CSB Payroll Savings Program says:
- The Program is free: there are no hidden charges or fees;
- With automatic payroll deductions, you never miss your money;
- Small contributions can equal big savings;
- It’s complementary to other savings and investment products;
- Access to your funds online anytime.
You can sign up to the Program, set up a new Payroll Savings Plan or change contributions to existing plans by logging onto www.mybonds.gc.ca
Don’t forget to download the Employee How-to Guide if you’re looking for a step-by-step approach to the most common online transactions. This can be found in Employee Self Service under Useful Links in the My Pay section.
If you are currently contributing to a plan, and you are happy with your current contribution amount and were not thinking of setting up an additional plan this year; not to worry, you don’t have to do a thing! Your existing contribution amount will continue to be deducted as usual.