Now in its eighth year, Saver Plus has supported nearly 12,000 people to save over $6 million towards costs relating to participants’ vocational training or their children’s schooling. Research by RMIT, ANZ and the Brotherhood of St Laurence shows that 87 per cent of Saver Plus participants continue to save at the same rate or more, two years after completing the program.
Saver Plus assists families on low incomes to develop a savings habit, build assets and improve financial capability. Participants set a savings goal and receive support and education to help them achieve it. When they reach their goal, ANZ matches their savings, dollar for dollar, up to $500. Saver Plus aims to reach around 20,000 more Australians across the next four years.
This summary report incorporates summaries of two previous research reports: