Why should your company offer the Payroll Savings Program?
Why employers like the program
Flexibility: The Payroll Savings Program enables you to set up payroll deduction schedules to correspond with your unique payroll timetable. You can also decide how often your employees can change purchase amounts between annual CSB sales periods.
RRSP Option: At your discretion, you may offer your employees the tax-deferred and tax-sheltered growth opportunity to help them save for their retirement. Their contributions held in The Canada RSP will grow steadily thanks to guaranteed returns, compound interest, and tax-sheltered status.
One-Time Sign-Up: Employees only sign up once rather than each year. This means that in subsequent annual CSB payroll sales periods, you only need to process applications from new participants or those who want to purchase additional bonds (i.e. as gifts).
Campaign Support: You will discover that the Payroll Savings Program is easy to administer. We will provide you with everything you need to announce, promote and administer the program. And help is always just a phone call away.
Resources: Extensive resources for employers and employees are available on our Web site. Specific questions can be answered by calling our toll-free Support lines.
Changes: Employees can stop, suspend or reduce (to the minimum allowed) their purchases at any time; you can decide how often they may make other changes. Once a year employees can increase their purchase amounts or start new Plans.
Redemptions: Employers are not involved in the redemption process. Employees can access their savings through secure online access, or by calling a toll-free number.
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Offer this valuable benefit to your employees today!
For more information please call 1 888 467-5999 (Mon to Fri, 8 am to 6 pm, ET)
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