Saver Plus terms and conditions

There are conditions to take part in the program

Take some time to read through the program conditions, so that you understand what you’ll need to do during the program and how we will be using your information.

You need to meet the following criteria to take part

A Saver Plus Coordinator will assess your eligibility to join Saver Plus. To be eligible to join Saver Plus and receive Saver Plus services you must meet all of the following criteria:

• be 18 years or over; and
• be either
  • the parent or guardian of a child attending school in the current or next year; or
  • attending or returning to vocational education where you will receive an accredited vocational education certificate; and
• you or your partner have regular income from paid employment (many types of income are eligible, including child support and carers payments); and
• have a current Health Care Card or Pensioner Concession Card; and
• be in receipt of an eligible Commonwealth social security benefit, allowance or payment. Eligible payments include:
  • ABSTUDY Living Allowance
  • Age Pension
  • Assistance for Isolated Children
  • Austudy
  • Bereavement Allowance
  • Carer Allowance
  • Carer Payment
  • Carer Supplement
  • Child Care Subsidy
  • Child Disability Assistance Payment
  • Dad and Partner Pay
  • Disability Support Pension
  • Family Tax Benefit (Part A)
  • Family Tax Benefit (Part B)
  • Farm Household Allowance
  • Jobseeker Payment
  • Mobility Allowance
  • Newborn Upfront Payment
  • Parental Leave Pay
  • Parenting Payment (Partnered)
  • Parenting Payment (Single)
  • Partner Allowance
  • Sickness Allowance
  • Special Benefit
  • Stillborn Baby Payment
  • Widow Allowance
  • Widow’s Pension
  • Youth Allowance (as a job seeker)
  • Youth Allowance (as a student)
• be able to demonstrate a capacity to save after your regular expenses have been paid; and
• have not received matched savings from Saver Plus before (you or your partner).

You will be required to do the following things to participate

Participation requirements

As a Saver Plus participant you must also meet program participation requirements. You must agree to:

• identify and work toward an eligible education-related savings goal;
• complete the online MoneyMinded financial education program offered as part of Saver Plus;
• open a new ANZ Progress Saver account;
• make regular and consistent deposits into the new ANZ Progress Saver account
  • over 10 months; and
  • as agreed in the Saver Plus Application Form and these Program Requirements;
• maintain contact with the Saver Plus Coordinator;
• have access to the internet and a digital device at a suitable and private location;
• be able to read and understand spoken English or have someone who can assist you;
• be computer literate or have someone who can assist you;
• use the matched savings for the purchase of the education-related savings goal as agreed in your Application Form.

If there is a change in your circumstances you should contact your Saver Plus Coordinator immediately to discuss adjusting your savings period or savings amount. Where required a letter of variation documenting the change(s) will be provided.

ANZ Progress Saver account

All Saver Plus participants must open a new ANZ Progress Saver account. Current details regarding the ANZ Progress Saver account are available at www.anz.com by searching “Progress Saver”.

You will need to meet these conditions to receive matched savings

Conditions for receiving matched savings

If you meet the Saver Plus program requirements, you will be eligible to receive matched savings. Please note:

• you will receive $1 in matched savings for every $1 you deposit and maintain in your designated ANZ Progress Saver account (up to $50 per month, to a maximum of $500) until the end of the last month of the 10 month savings period;
• if you miss three months of deposits in total over the program you may become ineligible to receive matched savings;
• matched savings do not take into account any interest earned;
• if you withdraw money from your account, including interest earned, it may affect your matched savings — always contact your Saver Plus Coordinator before withdrawing;
• deposits made into your ANZ Progress Saver account after the program end date will not be matched.

Once your savings period has ended and your final deposit is confirmed, we will:

• confirm your eligibility to receive matched savings and the amount to be matched;
• request that you complete a Matched Savings Claim Form.

Program administrators reserve the right to determine who is eligible for matched savings in accordance with the Saver Plus program rules. ANZ will only authorise matched savings on this advice.

Purchasing your education-related product or service

Any matched savings you receive must be used according to the Saver Plus program rules and the education-related goals you agreed with the Saver Plus Coordinator. Your own money that you save can be used at your discretion or left in the account if you wish to continue saving.

At the end of the savings period, we will arrange for an electronic funds transfer (EFT) into your ANZ Progress Saver account or, if you have closed your account, an EFT to another active bank account at another institution.

This process will commence in the month following your final deposit and upon contact made by the Saver Plus Coordinator to you. You will need to follow the required steps to receive your matched savings.

Changes or early termination of the Saver Plus program

The Saver Plus program rules are subject to change at any time. You will be advised of any change by the Saver Plus Coordinator. If the Saver Plus program is terminated by ANZ, Brotherhood of St. Laurence and/or any other party to the program for any reason before the savings period is completed, your matched savings will be calculated on the balance in your ANZ Progress Saver account at that time.

What you can expect from us and providing your feedback

Service Charter

In the delivery of the Saver Plus program, we will:

1. Respect and uphold the dignity and rights of each person and family involved with the program
   • respond with respect, and in a non-judgmental way;
   • acknowledge individual circumstances and needs;
   • respond appropriately to cultural diversity;
   • offer the opportunity to provide feedback to inform continuous improvement;
   • uphold participants’ rights.
2. Maximise access for people and families to ensure equity:
   • provide a quality, effective and targeted program;
   • ensure a safe, dignified, and accessible environment;
   • ensure support is available for the duration of the program;
   • work collaboratively with other organisations where appropriate;
   • refer participants to community support services where possible.
3. Be accountable within program and budget limitations:
   • seek feedback and respond to complaints promptly;
   • meet privacy and confidentiality obligations.

Feedback

We value compliments, complaints and suggestions. If you are not satisfied with the delivery of the Saver Plus program or feel that you have not been treated fairly and reasonably, contact your Saver Plus Coordinator. In most cases, complaints will be managed locally in the first instance. However, if you are not satisfied with the local process, you can request a complaint review by contacting either the Program Manager or the Saver Plus National Office:

National Saver Plus Manager
Email: [email protected]

You will be asked to participate in research

Ongoing assessment and improvement of Saver Plus

ANZ and the Brotherhood of St. Laurence use researchers to evaluate Saver Plus to ensure continual improvement. You may be contacted for feedback in the future. Any participation is voluntary and anonymous.

Policy advocacy and program innovation

Researchers may also use de-identified data to inform program innovation and policy advocacy. Your name or identifying information will never be used. Questions can be directed to the National Saver Plus Manager at [email protected].

You will need to participate in the MoneyMinded financial education workshops

You are required to attend and participate in 10 hours of MoneyMinded financial education workshops. If completing MoneyMinded Online, you must agree to the following:

MoneyMinded Online Declaration

I understand that to participate in MoneyMinded Online as part of Saver Plus, I must:

1. Have access to the internet on a computer, laptop or tablet (not mobile phone);
2. Be able to read and understand English or have assistance;
3. Be computer literate or have assistance.

I agree to:

1. Complete a spending diary for at least a week after the first four MoneyMinded activities;
2. Participate in two conversations with my Saver Plus Coordinator to discuss the online activities and program.

I understand my Coordinator will use my name and email to register me for MoneyMinded, developed by ANZ, and that ANZ will use this data only for verification and program purposes.

I confirm that I have read and agree to the MoneyMinded Terms and Conditions and Privacy Statement found here.

This is how your information will be used

The Brotherhood of St. Laurence collects your information to assess eligibility and administer the Saver Plus program. By participating, you agree that BSL may share relevant data with ANZ and other delivery partners (The Smith Family, Berry Street, and DSS) for program administration, research, and evaluation purposes. De-identified data may also be used for research and policy advocacy.

You may request access or correction of your information in accordance with the Privacy Act 1988. Contact: National Saver Plus Manager, email: [email protected].

Your commitment to us to participate in Saver Plus in order to receive matched savings

Saver Plus Declaration

I understand that to participate in Saver Plus and receive matched savings, I have agreed:

• to the savings goal and period in my Application form;
• to regularly deposit my savings in my ANZ Progress Saver account;
• to complete the MoneyMinded financial education program;
• to maintain contact with my Saver Plus Coordinator;
• to use matched savings only for my education-related goal as agreed.

If I do not fulfill this agreement, I may not receive matched savings. If I do, matched savings will be available after my final deposit and should be claimed within six months. A person or couple may receive matched savings only once.