The government is only in control for the first three months, you get $1000.00 as a top up from the Government, 4% of your wages goes into the savings, it is in your name, it is always your money, it is invested in, I think there are five providers who invest your money, each year you get a tax break of $1000 So the scheme is a good one 100% return on your money. Problem is its locked in so you cant get it till you retire, realy good if husband and wife are working and in the scheme cos after 5 years you would probably have $40,000 to put on a house as a deposit. Good for me I only have 5 years to go and would get about $25,000.
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