Changes after sign-up
Amendments
Bond owners can make changes (but not contribution
changes as these are made through a payroll office) or
acquire information directly by calling Customer Service
toll-free at 1 877 899-3599, Monday to Friday, 8 am to
8 pm (ET).
Suspensions and Resumptions
You
may
suspend your purchases at any time. Resumption of purchases can take
place before any payroll run, within whichever frequency is designated
by your organization. There is no penalty or
fee, and the balance continues to earn interest even while bond
purchases are suspended. You can keep track of suspensions and
resumptions by checking your pay stubs, the annual statement, or by
accessing your Plan online at
www.mybonds.gc.ca.
Increases and Reductions
You may reduce your purchase amount at any time, subject to the
frequency set by your organization. Increases above the purchase amount
on record for the year are not permitted between campaigns. However,
increases above that amount will be accepted (depending on how often
your employer allows you to make changes) for catch-up purposes as long
as the annual purchase amount remains approximately the same (i.e.: an
employee returns to work after maternity leave and would like to catch
up on her bond purchases). Otherwise, you can only increase purchase
amounts at the next annual campaign. Payroll Deduction Change Forms are
attached to the CSB Brochures. This form is not to be returned to the
Bank of Canada, but must be sent to your payroll department. You can
also download this form
here.
Clients who contribute to several plans and wish to change their
payroll deduction amount should call toll-free 1 877 899-3599, Monday to
Friday, 8 am to 8 pm (ET) in order to inform Customer Service of the new
amount to be allocated to each plan, otherwise the new deduction amount
will automatically be pro-rated across each of the plans.
Cancellations
You may cancel payroll deductions at any time. You may choose between
redeeming the bonds or continuing with them to earn interest in your
Plan. To cancel your deductions please contact your payroll department.
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