Commission provides KiwiSaver information at HomeStart roadshowsPosted to Financial Capability on 22-04-2015
The Commission for Financial Capability is providing independent KiwiSaver information to the public at a series of roadshows launching a new package to help young homeowners.
The roadshow series features the new KiwiSaver HomeStart programme at up to 20 public meetings in cities and regional towns across the country. HomeStart is administered by Housing New Zealand and is being launched by Housing Minister Nick Smith at the roadshows.
David Boyle, General Manager for Investor Education at the Commission, points out that whether someone owns their home or not can make a significant difference to their retirement.
“Our concern is that in the future, if the number of people owning their own homes continues to decrease, their costs in retirement will be higher,” Boyle explains.
“It’s important that we can offer KiwiSaver members, or those who have not yet joined the scheme, independent information about KiwiSaver and its benefits at these sessions.”
Through the KiwiSaver HomeStart programme, depending on how long a member has contributed to KiwiSaver, the government grants:
- Up to $5,000 towards an older, existing house
- Up to $10,000 towards a new house or towards buying land on which a new house will be built
A HomeStart grant can be used for houses that cost up to the following amounts in these areas:
- $550,000: Auckland
- $450,000: Hamilton City, Tauranga City, Western Bay of Plenty District, Kapiti Coast District, Porirua City, Upper Hutt City, Hutt City, Wellington City, Nelson City, Tasman District, Waimakariri District, Christchurch City, Selwyn District, Queenstown Lakes District
- $350,000: the rest of the country
For more information about HomeStart grants, see kiwisaver-homestart.co.nz or call 0508 935 266.
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