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Elimination of the Canada Savings Bonds Payroll Savings Program

November 2, 2017

In the last federal budget released on March 22, 2017, the Government of Canada announced it will discontinue the sale of Canada Savings Bonds (CSBs) and Canada Premium Bonds (CPBs) as of November 2017.

Several of Alberta’s municipalities currently offer their employees the option to purchase CSBs through the Government of Canada’s Payroll Savings Program; however this is no longer be available as of Nov. 1, 2017.

Municipalities that would like to continue to offer their employees an optional savings program through convenient payroll deductions are encouraged to contact our AMSC team to learn more about our Group RRSP and TFSA options.