Subject: Canada Savings Bonds (CSB) - Payroll Savings Program Campaign 2014
Date: August 15, 2014 Updated November 10, 2014
1.1. The purpose of this directive is to provide information concerning payroll deductions for the upcoming Canada Savings Bonds (CSB) Payroll Savings Program Campaign. This directive applies to all departments and organizations participating in the CSB Payroll Savings Program Campaign.
1.2. An information notice to employees concerning the CSB Payroll Savings Program Campaign has been included with this directive.
2.1. This document supersedes Compensation Directive ARCHIVED - CD 2013-015 dated October 7, 2013.
3.1. The CSB Payroll Savings Program allows public service employees to contribute to CSB plans through regular payroll deductions. These deductions are continuous and employees can make changes to their deductions during the yearly October campaign.
4.1. Deductions are forwarded to the Bank of Canada every two weeks, and are put towards the employee's CSB Payroll Savings plan(s). The interest starts accruing as soon as the Bank of Canada receives these payments.
4.2. Once a year, in January, contributors will receive a statement from the Bank of Canada documenting their CSB contribution(s), interest earned and any transactions conducted during that year. Contributors will also be able to verify their account at any time during the year by accessing the CSB Online Services web site or by calling Customer Service at 1-877-899-3599. Please note that the access is available only to clients with a user ID and password.
4.3. Existing and new payroll deductions are taken from all pay periods, including the pay period plus (PP+).
4.4. For the Payroll Savings Program, CSB may be registered in the following manner:
- in the contributor's name only,
- in the contributor's name together with another individual's name, either an adult or a minor; or
- in the name of an individual, other than the contributor, either an adult or a minor.
4.5. Registered Retirement Savings Plan (RRSP) Option
4.5.1. Since October 2010, employees no longer have the option to open a new Canada Registered Retirement Savings Plan (RRSP) account. Employees who already contribute to a Canada RRSP through payroll deductions will be able to continue to do so and may increase or decrease contributions. The minimum purchase is $20 per biweekly pay.
4.5.2. Employees who currently own a Canada RRSP will receive a statement of account on a semi-annual basis on June 30th and December 31st.
Please note that contributors cannot view their Canada RRSP accounts on the CSB Online Services web site. They must call Customer Service at 1-877-899-3599.
4.5.3. Employees making contributions to the Canada RRSP will receive RRSP tax receipts each year. One receipt will be for contributions made up to and including December 31st of the current tax filing year, and the other receipt will be for contributions made during the first 60 days of the following tax filing year (or as otherwise determined by the Minister of the Canada Revenue Agency (CRA)).
4.5.4. It is important to note that the employee's deduction amounts are not transferred directly to a Canada RRSP account. The deduction amounts are first remitted to the Bank of Canada, which then transfers the deduction amounts into the employee's Canada RRSP account(s). The Canada RRSP contributions will not be tax deductible at source and will not affect how deductions are forwarded to the Bank of Canada.
If employees wish to have the Canada RRSP portion of their deduction amount exempted from federal income tax at source or from Quebec income tax for employees who both work and reside in Quebec, they must obtain a letter of authorization from the CRA or Revenu Quebec (RQ). Please refer to ARCHIVED - CD 2002-020 entitled "Reducing Source Deductions of Income Tax" for detailed information.
5. Procedures and Instructions
5.1. An Organization Identification Number has been created so that the Bank of Canada can identify each purchaser's department or agency. Please refer to Annex A - Organization Codes for a list of these numbers and other references applicable to the Payroll Savings Program campaign.
5.2. Employees who do not want to increase their current CSB deductions do not have to take any action for the October 2014 campaign. Accordingly, their CSB deductions will continue to be ongoing.
5.3. Paper Application Forms
5.3.1. All departments and organizations now participate in the campaign through the CSB Online Services web site. Therefore, paper applications are no longer required. In the exceptional event that a paper application is completed by an employee, the procedures for the processing of paper forms are included in Annex B.
5.4. CSB Online Services Web Site
5.4.1. To set up a new plan, make changes to existing plans, redeem a bond or view plan balances, employees will login to CSB Online Services. Employees will be able to complete their CSB transactions from Wednesday, October 1st to Saturday, November 1st, 2014 at 8:00 p.m. ET.
5.4.2. The departmental campaign directors will provide their employees with an Organization ID to access the web site. Employees must log in using the ID number of the department or organization through which they are being paid. Employees who have already used the web site will require their Client ID and password to access the site. Once logged in, employees must provide their current pay office (PO) and paylist (PL) numbers. This information can be found in the Compensation Web Applications (CWA) under "Regular Pay" in the upper left corner of the screen. This site is available only to employees of federal government, agencies, and Crown corporations who have access to CWA. These applications are not accessible from outside the Government of Canada network.
5.4.3. The CSB Online Services is available only to clients with a user ID and password. This web site contains the procedures for registration, setting up new plans, making changes to existing plans and redeeming bonds. A step by step manual called the Employee How-To Guide is available online.
The web site also has a link to a Frequently Asked Questions (FAQs) for employees who require more information. When online, employees must indicate if the contributions are for themselves, for themselves and another individual, or for another individual (such as spouse or child).
5.4.4. All changes will be made effective for the first pay of December 2014 [December 3, 2014]. Please note that the Pay Period of December 3, 2014 is a PP+.
5.4.5. At the conclusion of the campaign (November 1st, 2014), the Bank of Canada will complete a bulk transfer to Public Works and Government Services Canada (PWGSC) with the CSB deduction information received from employees using the CSB Online Services web site. This information will be processed through the Regional Pay System (RPS) on November 13, 2014. Any rejects or error messages from RPS will then be forwarded to the appropriate department in the error analysis report. Compensation advisors will have until the close-out date of the first pay period of December 2014 (November 25, 2014, for RPS clients) to complete their corrections.
5.4.6. Should a compensation advisor be unable to correct a rejected CSB transaction before the close-out date, he or she will increase the remaining deductions to compensate for any missed deduction amounts upon a written request from the employee (see Section 5.6.).
184.108.40.206. If there is no written request, then the deduction should be started at the original deduction amount, even if it is after the close-out date and one or more deductions have been missed.
5.4.7. Details regarding reject and error messages, as well as the corrective actions to be taken, can be found in section PPIM 7-3-3-1 of the Personnel-Pay Input Manual (PPIM) .
5.5. Decreasing CSB Deductions Outside the Campaign Period
5.5.1. Once the campaign period has ended, employees may still request a decrease in their CSB deductions in writing to their compensation advisor. If they wish to revise the individual amounts allocated to each of their CSB plans, they should contact Customer Service at 1-877-899-3599. Unless otherwise advised, the Bank of Canada will prorate the new total deduction amount across all of the employee's CSB plans, including their Canada RRSP.
5.6. Increasing CSB Deductions Outside the Campaign Period
| 5.6.1. Departments and agencies now have the option of allowing their employees to increase their CSB deductions outside the campaign period. The frequency of the increase is determined by the individual department or agency and employees should contact their department or agency to confirm what is allowed. Employees can request any allowed increases in their CSB deductions in writing to their compensation advisor. If they wish to revise the individual amounts allocated to each of their CSB plans, they should contact Customer Service at 1-877-899-3599. Unless otherwise advised, the Bank of Canada will prorate the new total deduction amount across all of the employee's CSB plans, including their Canada RRSP.
5.7. Deductions Not Withheld
| 5.7.1. Should one or more deductions be missed during the year, employees must submit a written request to their compensation advisor to amend their deductions to a desired amount. If the employee does not submit his written request, no amendment will be done.
5.8. Deduction Cancellations
5.8.1. If, at any time, employees wish to cancel their existing deduction, they must submit a request in writing to their compensation advisor. The compensation advisor will then take the necessary action to cancel the deduction in the RPS.
5.9. CSB Redemptions
5.9.1. If employees also wish to cancel their CSB plan(s), they should contact Customer Service at 1-877-899-3599 for further information concerning the redemption of their plans.
5.9.2. To redeem a CSB held in the Canada RRSP, employees should contact the trustee for the Canada RPS in writing at the following address:
Canada Savings Bonds
PO Box 2390, Station D
Ottawa ON K1P 1K8
5.10. Restarting a Cancelled Deduction
5.10.1. At the discretion of departments and agencies, employees may request that their deduction be restarted outside of the campaign period. To make such a request, employees must have an active CSB plan (or plans). The new deduction amount requested must not exceed an amount equal to the employee's contribution amount on record for the year.
5.11. Deduction Transfers from Pay to Pension
5.11.1. Pensioners cannot open new CSB payroll savings plans. The only way pensioners may have a CSB deduction from their pension is by transferring their CSB deductions from pay before they retire and are still employed. Employees can contact the Government of Canada Pension Centre for information on completing the Deduction from Annuity or Annual Allowance (PWGSC-TPSGC 1422) form.
If employees wish to transfer their CSB deductions, their compensation advisor should indicate the appropriate amount on line 4 of the form. Employees should ensure that this amount does not cause their total yearly deduction to exceed an amount equal to their contribution amount on record for the year.
Further information regarding this issue can be found in ARCHIVED - CD 2003-014.
6.1. Any inquiries on the information contained in this directive should be addressed to your Public Works and Government Services Canada (PWGSC) Compensation Services Office.
Reference(s): CJA 1065-2-1
This table consists of list Departmental codes for the Regional Pay System. This list implies the title of organisation and the Organization Identification Number.
|Departmental Code for Regional Pay System||Title of Organization||Organization Identification Number|
|ACO||Atlantic Canada Opportunities Agency||31926|
|AGR||Department of Agriculture and Agri-Food||31993|
|AHS||Public Health Agency of Canada||37820|
|ATN||Canadian Transportation Agency||31943|
|AUD||Office of the Auditor General of Canada||31931|
|BAL||Library and Archives of Canada||31962|
|BCO||Canadian International Trade Tribunal||31939|
|BSF||Canada Border Services Agency||37813|
|CAJ||Courts Administration Services||31977|
|CAP||Parks Canada Agency||32068|
|CDC||Canadian Dairy Commission||32042|
|CEO||Office of the Chief Electoral Officer||31945|
|CES||Canada School of Public Service||31933|
|CFC||Financial Transactions and Reports Analysis Centre of Canada||33024|
|CGC||Canadian Grain Commission||32047|
|CIC||Canadian Intergovernmental Conference Secretariat||31936|
|CLR||Canada Industrial Relations Board||31932|
|COL||Office of the Commissioner of Official Languages||31949|
|CPM||Military Police Complaints Commission||32995|
|CRI||Canadian Institutes of Health Research||31961|
|CSA||Canadian Space Agency||31942|
|CSD||Department of Human Resources and Skills Development||32002|
|CSE||Communications Security Establishment||32051|
|CSN||Canadian Nuclear Safety Commission||31928|
|CSW||Office of the Co-ordinator Status of Women||31989|
|DFO||Department of Fisheries and Oceans||31998|
|DND||Department of National Defence - Civilians||32012|
|DOE||Department of the Environment||31997|
|DUS||Department of Industry||32005|
|DVA||Department of Veterans Affairs Canada||32010|
|ENR||National Energy Board||31964|
|ESO||Federal Economic Development Agency for Southern Ontario||39808|
|ETH||Office of the Ethics Commissioner||37866|
|EXT||Department of Foreign Affairs, Trade and Development Canada||31952|
|FIN||Department of Finance||31988|
|FJA||Office of the Commissioner for Federal Judicial Affairs||31947|
|FNA||Financial Consumer Agency of Canada||34350|
|FRD||Economic Development Agency of Canada for the Regions of Quebec||31948|
|GGS||Office of the Governor General's Secretary||31953|
|GSS||Shared Services Canada||40193|
|GTR||Registry of the Specific Claims Tribunal||39535|
|HOC||House of Commons||31954|
|HRC||Canadian Human Rights Commission||31935|
|IAN||Department of Indian and Northern Affairs||32004|
|ICA||Canadian Food Inspection Agency||31996|
|IHR||International Centre for Human Rights and Democratic Development||32031|
|IJC||International Joint Commission||31958|
|IMC||Department of Citizenship and Immigration||31944|
|INF||Office of Infrastructure of Canada||36262|
|INT||Office of the Public Sector Integrity Commissioner||39283|
|IOG||Indian Oil and Gas Canada||32035|
|IPC||Offices of the Information and Privacy Commissioners||31978|
|IRA||Office of Indian Residential Schools Resolution of Canada||37881|
|IRB||Immigration and Refugee Board||31955|
|IRS||Indian Residential Schools Truth and Reconciliation Commission Secretariat||39537|
|JUS||Department of Justice||31960|
|LIB||Library of Parliament||31959|
|LOB||Office of the Commissioner of Lobbying||38746|
|MOT||Department of Transport||32009|
|MPA||House of Commons (Members)||32045|
|NAR||Canada Revenue Agency||32014|
|NBC||National Battlefields Commission||32048|
|NFB||National Film Board||31966|
|NPB||National Parole Board||32001|
|NRC||National Research Council of Canada||31973|
|NSE||Natural Sciences and Engineering Research Council||32055|
|OCC||Canadian Centre for Occupational Health and Safety||32050|
|PAA||Atlantic Pilotage Authority||32053|
|PAL||Laurentian Pilotage Authority||32056|
|PAY||Canadian Security Intelligence Service||32169|
|PCH||Department of Canadian Heritage||31934|
|PCO||Privy Council Office||31984|
|PEN||Correctional Service of Canada||32058|
|POL||Canadian Polar Commission||32062|
|PPD||Office of the Director of Public Prosecutions||38089|
|PRT||Registry of the Public Servants Disclosure Protection Tribunal||39284|
|PSC||Public Service Commission||31985|
|PSP||Department of Public Safety and Emergency Preparedness||32015|
|PTP||Human Rights Tribunal||34268|
|PXR||Patented Medicine Prices Review Board||32061|
|RCM||Royal Canadian Mounted Police (Public Service employees - Regional Pay System)||31927|
|RCMP||Royal Canadian Mounted Police (Civilian and Regular members - GEAC System only)||32003|
|RCT||Registry of the Competition Tribunal||32059|
|RLT||Public Service Labour Relations Board||31981|
|RSN||Department of Natural Resources||31974|
|RTC||Canadian Radio-television and Telecommunications Commission||31940|
|NHW||Department of Health||32069|
|SIF||Office of the Superintendent of Financial Institutions||31980|
|SIR||Security Intelligence Review Committee||39519|
|SRT||Office of the Communications Security Establishment Commissioner||39825|
|SSH||Social Sciences and Humanities Research Council||31982|
|SUC||Office of the Registrar of the Supreme Court of Canada||31975|
|SVC||Department of Public Works and Government Services Canada||32013|
|SYT||Statistical Survey Operations||37879|
|TAT||Transportation Appeal Tribunal of Canada||32034|
|TBD||Treasury Board (Secretariat)||31950|
|TSB||Canadian Transportation Accident Investigation and Safety Board||31986|
|TSD||Public Service Staffing Tribunal||37687|
|WCO||Department of Western Economic Diversification||31991|
|N/A||Payroll Service Provider PWGSC (Regular - for remittances only)||32064|
References for Pension Deduction - This table consists of list Departmental codes for the Regional Pay System. This list implies the title of organisation and the Organization Identification Number.
|Pension Plan Code||Pension Plan||Organization Identification Number|
|CFSP||Canadian Forces Superannuation Plan||32066|
|MPRP||Members of Parliament Retirement Plan - House of Commons||32167|
|PSSP||Public Service Superannuation Plan||32063|
|RCMPSP||Royal Canadian Mounted Police Superannuation Plan||32067|
Descriptions and Procedures for Paper Forms
Payroll Deduction Change Form
Completion of a Payroll Deduction Change form is required whenever employees who are already on the Canada Savings Bonds (CSB) Payroll Savings Program wish to increase their current total CSB deduction amount for the second pay in December.
This CSB form is a generic form created for all employers and is not specifically designed for the public service. Therefore, despite being designated as optional on the form, the campaign director will ensure that the employee is instructed to complete the Organization Information section. The Employee Number section must be completed using the employee's Personal Record Identifier (PRI).
Employees who are completing a Payroll Deduction Change form should contact Customer Service at 1-877-899-3599 if they wish to revise the individual amount allocated to each of their CSB plans. If not otherwise advised, the Bank of Canada will prorate the new total CSB deduction amount across all of the employee's CSB plans.
The campaign director will forward the Payroll Deduction Change forms to the compensation advisor for processing. The compensation advisor will enter the employee's amended deduction amount in the Regional Pay System (RPS), effective for the second pay in December 2014 (payment date, December 17, 2014). The change form will be retained in the department and should not be forwarded to the Bank of Canada. The Bank of Canada will be notified of the change in deduction amount upon receipt of the next remittance.
Unless otherwise negotiated, the deadline for the receipt of change forms by the compensation advisor is Friday, October 31st, 2014.
Payroll Savings Program Application Form (PSP-14)
Completion of a Payroll Savings Program Application Form (PSP) is required whenever employees are opening a new CSB plan for themselves, for themselves and another individual, or for another individual (such as spouse or child).
The campaign director will ensure that all employees completing a form are instructed to include their departmental code and paylist number in the Organization Information section of the form and to indicate their PRI in the Employee Number section of the form. The PSP application form is designed so that the Employee Number section of the form is blacked out on the copy identified for the Bank of Canada.
The campaign director must also ensure that the correct Organization Identification Number appears in the appropriate boxes on all application forms forwarded to the Bank of Canada. The Organization Identification Number has been created to enable the Bank of Canada to identify each purchaser's department or organization. Whenever an employee is transferred, the Organization Identification Number will be automatically changed in RPS, and the Bank of Canada will be notified with the next remittance. Please refer to Annex A for a list of these numbers.
The PSP application form is a three-part form: the employee will retain one of the "Employer's/Employee's Copy" and the terms and conditions from the PSP application form. The campaign director will forward the "Bank of Canada Copy" directly to the Bank of Canada and the other "Employer's/Employee's Copy" to the compensation advisor for processing.
The campaign director will ensure that all PSP application forms from the same employee are attached together before forwarding the appropriate copies to the Bank of Canada and the compensation advisor.
It should be noted that employees with an existing deduction who are completing additional application forms also have to complete a Payroll Deduction Change form indicating their total amended payroll deduction. The campaign director will ensure that this change form is attached to the copy of the PSP application form(s) forwarded to the compensation advisor. A copy of the Payroll Deduction Change form should not be attached to the Bank of Canada copy of the PSP application form(s).
If an employee's original application is lost, a new application form must be completed.
The deadline for the receipt of PSP application forms by the Bank of Canada and the compensation advisor is Friday, October 31st, 2014.
Canada RRSP Application Forms
Since October 2010, employees no longer have the option to open a new Canada RRSP. The Canada RRSP application form is therefore no longer available.
For information concerning the RRSP option for CSBs, employees may visit the CSB web site at Canada Savings Bonds or contact Customer Service at 1-877-899-3599.
Information Notice to Employees
For The Canada Savings Bonds Campaign 2014
The purpose of this notice is to provide you with information relative to the 2014 Canada Savings Bond (CSB) Payroll Savings Program Campaign.
The CSB may be registered in the following manner:
- in the contributor's name only,
- in the contributor's name together with another individual's name, either an adult or a minor, or
- in the name of an individual other than the purchaser, either an adult or a minor.
Your departmental campaign director is your primary source of information concerning the 2014 CSB Payroll Savings Program Campaign. Two other important sources of information are the Payroll Savings Program web page and the Bank of Canada's toll free telephone number 1-877-899-3599.
Note: If you are satisfied with your current CSB deduction, you do not need to take any action for the new campaign, as your CSB deduction will continue to be ongoing.
Payroll Savings Web Site
To start a new CSB deduction or to make any changes to your existing CSB deduction, login to the CSB Online Services web site during the campaign, and follow the on-line instructions. Access is available only to clients with a user ID and password. If you have already used the web site, you will require the client identification code and password previously provided to you to access the site. If you are a first-time user, your campaign director will provide you with an Organization ID needed to complete your on-line registration. Failure to enter this information may result in delayed processing of your request, or non-processing of your request.
To complete a CSB transaction through the CSB Online Services web site, you will need to know your current pay office (PO) and paylist (PL) numbers. This information can be found in the upper left corner of your most recent statement of earnings (pay stub) or under "Regular Pay" in the Compensation Web Applications (CWA) . This web site is available only to employees of federal government, agencies, crown corporation who have access to CWA. These applications are not accessible from outside the Government of Canada network. It is your responsibility to ensure that all information you enter on-line is correct. Failure to enter this information may jeopardize the processing of your request. An Employee How-To Guide is available online for all common transactions, such as setting up your online account, opening new plans and setting contribution amounts.
You may open CSB Payroll Savings plans for several people during the campaign. For each plan, the web site will require you to indicate if the plan is for yourself (Single Plan), for yourself and someone else (Joint Plan), or for someone else (such as spouse or child).
| Your new deduction amount will be made effective for your first pay in December 2014 (payment date, December 3, 2014).
Paper Application Forms
- If you do not have Internet access or have a disability that prevents you from using the CSB Online Services web site, you may request a paper application form from your departmental campaign director who will advise you on how to complete the form.
After the Campaign Ends (on November 1st, 2014)
Once the campaign period has ended, you may still decrease or cancel your CSB deduction by consulting CWA or by writing to your compensation advisor.
Some departments and agencies also allow increases to CSB deductions after the campaign has ended. Please contact your compensation advisor to confirm if this option is available to you. If the option is available, you may increase your CSB deduction by consulting CWA or by writing to your compensation advisor.
Should you miss one or more deductions during the year, you must submit a written request to your compensation advisor to amend your deduction to an amount that will make up the difference in your yearly CSB deduction. During a period of extended leave without pay (LWOP), you should contact Customer Service at 1-877-899-3599 to discuss your options.
Redeeming Your CSB within your Payroll Savings Plans
To redeem part or all of one or more of your CSBs, you should access the CSB Online Services web site or contact Customer Service at 1-877-899-3599.
To redeem a CSB held in the Canada Registered Retirement Savings Plan (RRSP), you should contact the trustee for the Canada RRSP by writing to the following address:
Canada Savings Bonds
PO Box 2390, Station D
Ottawa ON K1P 1K8
Notes Concerning the CSB RRSP Option
For general information on the RRSP option, please visit the Canada Savings Bonds web site or contact Customer Service at 1-877-899-3599.
Since October 2010, employees no longer have the option to open a new Canada RRSP account. However, employees who already contribute to a Canada RRSP through payroll deductions can continue to do so and may increase or decrease contributions.
If you already contribute to a Canada RRSP through payroll deductions and wish to have that amount exempted from income tax, you must complete form T1213, Request to Reduce Tax Deductions at Source for Year(s) ______, to obtain a letter of authorization from the Canada Revenue Agency. If you both work and reside in Quebec, you may also choose to obtain a letter of authorization from "Revenu Québec" by completing form TP-1016-V, Application for a Reduction in Source Deductions of Income Tax. These letters of authorization will inform your employer of the exact amount to be exempted.
Any request for information regarding the foregoing should be addressed to your compensation advisor.
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