Vote for me: Liberals promise $400 per year for children aged up to 10

Under the scheme parents will be able to contribute to the fund and the Government will match the contribution up to $400. Contributions into the scheme by parents will be limited to $1000. All money will be pooled in a special deposit account to be invested.

At 18, children will be able to draw money out of the fund for housing and education. The Kids Future Fund, if the NSW Liberals are elected on March 25th, is intended to delivering a long term investment to support housing or education and so the funds will only be released after the child turns 18. Guidelines will be created that will outline the requirements that will need to be met in order to draw money out of the fund.

In year one of the scheme, children aged up to 10 will be eligible to enter the scheme. The fund is expected to grow to around $28,000 after 18 years if parents make the annual $400 contribution that is matched by the Government’s co-contribution. If the fund is not drawn down at 18 families can continue to make contributions to the account, and interest will continue to accrue. However, the NSW Government will not contribute further to the account. Individuals may choose to hold their funds in reserve and use them later in life, for example further their education or re-skill. Money will not have to be withdrawn all at once. The remaining funds can continue to grow. If a family moves interstate or overseas, parents will not be able to make contributions and contributions will not be made by the NSW Government. These children will be able to call on whatever amount of money is in their name upon turning 18. Interest can still be earned on whatever contributions were made before moving interstate or overseas. but wait.... there's more The NSW Liberals also promise to introduce a full year of free preschool, 5-days per week, for every 4 year old child in NSW.