Who is it that performs the act of saving? Is it Christ, or is it the sinner. It is very, very simple. The sinner cannot save - but Christ can and does!
In every context, that should be preceeded by the question, "Saved from what?". If from the penalty of sin, I will agree with you. If from sinfulness, God requires human cooperation this side of the last day. If one is willing to cooperate with God in the later, then the former is done for you without penances or works to pay the debt.