University of Saskatchewan

Financial Services (FS)

Sep 30, 2010

Payroll Savings Program & Canada RSP 2010/2011

To: To all Monthly Paid employees
From: Kelly Read - Payroll & Payment Services
Date: September 30, 2010
Subject: Payroll Savings Program & Canada RSP 2010/2011


The University is offering the automatic payroll deduction to monthly paid employees, for both the Payroll Savings Program & Canada RSP program. The online application process is accessed through a web link for the Bank of Canada. You can register for a new payroll savings program or modify a prior year payroll deductions for both the Payroll Savings Program & Canada RSP.

The Payroll Savings Program & Canada RSP plans are simple, convenient and secure ways to save for tomorrow. Your fixed contribution amount is deducted from each month-end paycheque and you start earning interest when your funds are received by the Bank of Canada.

Program Features remain unchanged from prior campaigns:

Rules for the Payroll Savings Plan:

To register to purchase Canada Savings Bonds access the online application process go to: The University of Saskatchewan ORGANIZATION ID is 12750

Note: First time applicants will be taken through a step by step process to create an account

For more information on the Canada Saving Bond options access their web site at: (Select employee option)
Customer Information Line at 1-877-899-3599 (Monday to Friday 8am - 8pm ET)

If you require additional assistance contact us at

Existing Plan Account Holders




When an employee terminates employment with the University the automatic payroll deductions are cancelled at the end of that month. Departing employees have three options: