Canada Savings Bonds

About Your Plan

Understand the different types of plans.

Plan types

The following plan types were available through the Payroll Savings Program:

Single Plan
The contributor was the sole owner of this Plan and had 100% access to the funds.
Joint Plan
The contributor was a co-owner of this Plan. The other co-owner could be a spouse, a child, or another individual. Joint Plans were registered with the right of survivorship. Both co-owners had 100% access to the funds. Redemption and maturity payment cheques were issued in both owners’ names, in which case both signatures were required to cash in the cheque, or funds were deposited directly into a bank account that was held in both owners’ names.
Third-Party Plan (and when owner was a minor)
The contributor contributed to this Plan for someone else. The owner of the Plan had 100% access to the funds for redemption and maturity payments. If the Plan owner was a minor (under 18 years of age), the legal guardian had access to the funds.