PHOTO: SUPPLIED Mortgage repayment should happen before investing into risky sharemarkets, says lawyer Vicki Pomeroy from Titirangi, Auckland.
Auckland lawyer Vicki Pomeroy wants to turn the clock back to the early days of KiwiSaver when people with mortgages could save less into their locked retirement accounts, and still get their full employer contributions and taxpayer-funded incentives.
Pomeroy has petitioned Parliament to allow homeowners to stop their personal contributions to KiwiSaver so they can repay their home loans faster, without losing access to the free money from their employers and from the government.
She asked for KiwiSaver laws to be changed to treat principal repayments on contributors’ mortgages to be counted KiwiSaver contributions, so they still qualified for employer contributions and Member Tax Credits (MTC).
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