• For 1 child.
• The child doesn't have to be related to you.
• Your savings are combined with those of other people.
• How much each child gets is based on how much money is in the group account, and on the number of students of the same age who are in school that year.
• Plans are provided by group plan dealers, who usually put money in low-risk investments.
• Each group plan is different and has its own rules. Be sure to ask your group plan dealer for details, and read the plan rules carefully, as you would with any investment.
• Shop around for the plan that best suits your needs.
• Usually, you must make regular payments into the plan over a certain period of time (you'll be asked to sign a contract agreeing to make these regular payments).
• Group plans are good if you prefer having someone decide how to invest the money for you, and you're fairly sure that the child you are saving for will continue his/her education after high school.

For more details about group plans, visit the Canada Revenue Agency's Web pages on RESPs.