Two updates to the Canada Savings Bonds Program will take effect October 2010. These changes will help streamline the Program and ensure its long-term sustainability. The upcoming 2009/2010 sales campaign will not be affected by these changes.

First, the sales period will be streamlined from six months to two months in order to concentrate on the sales period from early October to December when most sales are conducted.

Second, new customers will no longer be able to open a Government sponsored Canada RSP (Retirement Savings Plan) or Canada RIF (Retirement Income Fund). Existing Canada RSP/RIF bondholders will not be affected by this change and all Canadians will still be able to hold Canada Savings Bonds (CSBs) and Canada Premium Bonds (CPBs) in their self-directed RSPs/RIFs.

For more than 65 years, the Canada Savings Bonds Program has provided Canadians with a simple, safe way to save that is backed by the Government of Canada. These changes are a proactive step to ensure Canadians have access to the program for many years to come.

For more information:

General questions: 1-800-575-5151

For media inquiries only: 613-782-8782

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