A group plan is set up through your employer. Your contributions come off your pay, your employer may add its own, and you choose from the investments the plan offers. A personal plan, such as your own RRSP, is one you open and fund yourself, with whatever investments your provider offers. Contributions to a group RRSP and a personal RRSP share the same RRSP contribution room.
How does a group retirement plan differ from a personal retirement plan?
Reviewed by Garrett Agencies Ltd., October 2026. How we write
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More about group retirement savings
Workplace savings plans that help your team save for retirement through payroll contributions.
More questions about group retirement savings
- Are employer contributions to a group retirement plan mandatory in Canada?
- Can I manage my own investments within a group retirement plan?
- What happens to an employee’s group retirement savings when they change jobs?
- What tax benefits are associated with group retirement plans?
- When can employees access funds in a group retirement plan?
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