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First home buyers are increasingly leveraging KiwiSaver to make their home ownership dreams come true. And now some exciting new changes are making it easier than ever. The main changes are:

  • A KiwiSaver HomeStart Grant will replace the First Home Deposit Subsidy. This means that those eligible get double the level of the grant if buying or building a new house, and it will increase the price limits for all grant applicants.
  • Larger KiwiSaver first home purchase withdrawals will be available, including the member tax credits. Following three years of KiwiSaver membership first home buyers will now be able to withdraw all of their KiwiSaver funds (except the $1,000 kick start).
  • More people will be eligible for Welcome Home Loans as the house price caps are aligned with the new KiwiSaver HomeStart Grant house caps.
  • Those purchasing properties off the plans will be able to receive the grant at the beginning of the process.
  • The introduction of maximum grant amounts for the purchase of single dwellings.

These changes came into effect on 1 April 2015. If you want to know more about how you can take advantage of KiwiSaver talk to your Prosper adviser



On the first of April New Zealand Superannuation went up two per cent. That means that those over the age of 65 now receive $375 a week. Couples over 65 receive $576. This makes superannuation 66 per cent of the average net wage.

Eight out of ten of us recognise that, when it comes to living comfortably, $375 a week just wont cut it. Most of us know that if we’re keen on living a lifestyle we’re accustomed to once we retire we’re going to need to supplement the pension. And the sooner we start saving for that supplementation the easier it will be.

The first step is to consider how much you think you might need to retire and how far you are off retirement age. Once you figure out how much you think you need you need to explore all of the options around how to best get it. KiwiSaver is an obvious, and great, start but three are a lot of other avenues too. The best bet is to talk to your financial adviser – the sooner you do it, the more comfortable your retirement could be!