Products
The Canada Premium Bond
The Canada Premium Bond (CPB) is the only product available for sale through financial institutions, dealers and Customer Service. It is a safe and secure savings product issued and fully guaranteed by the Government of Canada.
Since 1 August 2012, The Canada Premium Bond can be redeemed at any time during the year. Note that if CPBs are redeemed prior to the anniversary date of issue, interest earned from the last anniversary date up to the date of redemption will be forfeited, and only interest earned up to the last anniversary date of issue will be paid out.
See Terms & Conditions for more information.
Since November 2012, The Canada Premium Bond has a three-year term to maturity, with interest rates announced for the same period and remaining in effect for that announced period. At the end of the period, new rates are announced by the Minister of Finance based on the prevailing market conditions.
Starting October 2013, a social insurance number (SIN) will be mandatory when purchasing a CPB. For minors who do have a SIN, the date of birth will be mandatory. As well, direct deposit information is mandatory for Regular Interest Bond purchases.
The Canada Savings Bond
Since November 2012, Canada Savings Bonds (CSBs) are only available through the Payroll Savings Program.
The Canada Savings Bond is a safe and secure savings product issued and fully guaranteed by the Government of Canada. CSBs can be redeemed at any time during the year. See Terms & Conditions for more information.
The Canada Savings Bond has a three-year term to maturity, with interest rates announced for one year and remaining in effect for that period. At the end of one year, new rates are announced by the Minister of Finance based on the prevailing market conditions.
The Canada RSP
Only existing Canada RSP plan holders can make new contributions to their Canada RSP. If you contribute to your Canada RSP plan through the Payroll Savings Program, you can make new contributions to CSBs within your plan, from early October to 1 November. If you purchase bonds for your Canada RSP through financial institutions, dealers or by calling Customer Service, you can only buy Canada Premium Bonds from early October to 1 December. See Terms & Conditions and Declaration of Trust for more information.
You will receive a tax receipt for your contribution and all contributions are subject to the annual limit prescribed by the Canada Revenue Agency.
Existing plan holders can transfer all or part of their Compound-Interest CSBs/CPBs to The Canada RSP (minimum of $500, maximum of $500,000 per series) at any time prior to maturity. (Note: Non-certificated Canada Savings Bonds purchased through investment dealers cannot be transferred to The Canada RSP)
Existing plan holders can transfer funds from a self-directed RRSP (except locked-in funds) to The Canada RSP.
By law, you are not eligible to hold an RRSP beyond 31 December of the year in which you reach the age of 71. By that time, you must arrange to transfer the proceeds of your RRSP into a RRIF or an annuity that provides you with a retirement income, or withdraw the funds and pay income tax on the total proceeds.
The Canada RIF
Existing plan holders, at any time, may transfer CSBs/CPBs held in a Self-Directed RRSP or RRIF by contacting our Customer Service to initiate the transfer request.
During the sales campaign, you can transfer the proceeds (except locked-in funds) from a self-directed RRSP or RRIF to The Canada RIF to purchase CPBs (through a financial institution, dealer or by phone from early October to 1 December) or to contribute to a CSB through the Payroll Savings Program (from early October to 1 November). Contact Customer Service to initiate the transfer request. See Terms & Conditions and Declaration of Trust for more information.
Your savings retain their tax-deferred status until they are withdrawn.
You control the timing and amount of your withdrawals (subject to an annual minimum amount required by law).
