8 Aug 2013

Several iwi interested in Ngai Tahu saving scheme

9:48 am on 8 August 2013

Iwi interested in setting up saving schemes for their members are seeking advice from Ngai Tahu about how to do it.

More than 18,000 people have joined Ngai Tahu's saving scheme, Whai Rawa, since it began in 2006, and programme manager Andrew Scott says 60% of them are younger than 16. He says the scheme allows withdrawals for tertiary education, first-home purchase and retirement.

Mr Scott says Ngai Tahu has had a number of enquiries from several tribes interested in the idea of the scheme but looking after people's money is complex and each iwi has different needs that need to be assessed - so none are rushing into it.

He says Whanau Ora has played a big part in whanau becoming more financially literate.