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10-year research report highlights the lasting impact of Saver Plus for Australians

Since Saver Plus was first delivered more than 10 years ago, the matched savings program has become the world’s longest running and largest of its kind in the world, supporting almost 15,000 people save over $13.5 million.

A new research report released today by ANZ, the Brotherhood of St Laurence and RMIT University, highlights the success of Saver Plus in building money management and savings capabilities in lower-income Australians. The report also found that Saver Plus has wider social and economic benefits such as increased social networks, reduced reliance on government benefits and encouraging children and family members to save.


Philip Chronican, ANZ Australia Chief Executive Officer said: “This landmark research which spans a decade, shows how successful Saver Plus has been in building the long- term savings habits and money management capabilities of lower-income Australians.


“We have made a long-term commitment to helping disadvantaged people to build financial skills and capabilities. This contributes to the economic development of communities and of Australia.


“We’re proud of this program and its results, and together with our partners the Brotherhood of St Laurence, Berry Street, the Benevolent Society, the Smith Family and the Australian Government we’ve been able to deliver it in 60 sites across Australia,” Mr Chronican said.


Key Findings (since 2004)


  • 87% are saving the same amount or more since completing the program
  • 84% encourage children and family members to save
  • 85% have more control over their finances
  • 78% are able to make ends meet


Financial decision-making

  • 88% are more aware of where to get help with financial decision making
  • 86% are better able to deal with financial problems



  • 93% have increased self-esteem
  • 71% have increased confidence
  • 68% have reduced levels of stress


Secondary outcomes

  • 82% increased social networks
  • 52% continue to invest in education
  • 48% reduced reliance on government benefits
  • 27% have taken out insurance policies


Brotherhood of St Laurence Executive Director, Tony Nicholson, said Saver Plus helped put participants in control of household finances and improved long-term wellbeing.


“The Brotherhood of St Laurence has long recognised that if disadvantaged Australians are to build a good life for themselves in the modern economy, like all of us, they need to have financial literacy and access to affordable financial services,” Mr Nicholson said.


The Minister for Social Services, The Hon. Scott Morrison MP also commented on the release of the report, saying: “Saver Plus helps people living on low incomes to build their financial capabilities, while saving for a purpose related to education. There is substantial research and evidence demonstrating that education provides a clear pathway out of welfare dependency.


“This program changes a participant’s behaviour, with many participants continuing to save for essential items well after completion and be more resilient to financial shocks and challenges,” the Minister said.


Testimonial from Saver Plus participant, Julianne

A former Saver Plus participant from the La Trobe Valley in Victoria shared their views on the program and the lasting impact it has had on their life.


“This program has had a massive impact on my family and personal life. The year I did the savings I was on a single parent disability pension. I saved for this program, a holiday to Tasmania and paid off bills along the way. My next goal is a house deposit.”


Note for Editors:

  • A copy of Saver Plus: A Decade of Impact can be found in the ‘Research Reports’ section of: https://www.anz.com.au/about-us/corporate-responsibility/cr-library/

  • Saver Plus is a matched savings and financial education program developed by ANZ and the Brotherhood of St Laurence to assist people on lower incomes to strengthen their financial skills, knowledge and confidence and save for their own or their children's education. Program participants receive financial education, personal coaching and $1 from ANZ for every $1 saved up to $500.

  • Saver Plus is delivered by the Brotherhood of St Laurence, the Smith Family, the Benevolent Society, Berry Street and other local community organisations.

  • The program is funded by ANZ and the Australian Government, with ANZ providing matched savings for participants.


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