How does a group plan work?
When your employer offers a group retirement and savings plan, it becomes part of your overall employee benefit package.
A group plan offers more buying power because your contributions are pooled and invested with many others. This results in fees that are generally lower than those you’d find as an individual investor.
Often you can make contributions to a group plan through payroll deductions, making saving for retirement easy. For registered plans such as RRSPs, you get an immediate tax advantage because the contribution is deducted from your pay before tax is calculated.