Parents of all babies born in New Zealand on June 1, 2022 are being invited to claim a share of a $222,000 pool - a move being welcomed by the Parenting Place family charity.
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The 'baby bonus' is the brainchild of two telcos - 2degrees and Vocus New Zealand - to celebrate their joining forces and to "provide a bigger, brighter and fairer future for the next generation of Kiwis."
Parenting Place CEO, David Atkinson, says the money will make a big difference to (eligible) families.
"About 160 babies are born in New Zealand every day. It is an exciting time for families and the most important job anyone will ever do," he says. "But it can also be stressful, especially when families are facing even more challenges such as the rising cost of living and Covid-19.
"So, anything that takes the pressure off and enables a parent to spend more time with their baby, to be available emotionally as well as providing food and a home, or helping set them up for the future, has got to be beneficial," he says.
"The first year of a baby's life is when parents lay the foundation a child will draw on for the rest of their life."
Recent estimates (published by Westpac) show the first year of a baby's life can amount to $8000 to $16,000 in additional expenses and Atkinson says it is "awesome 2degrees is helping these pēpē who are lucky enough to be born on June 1; anyone who understands the importance of parenting we want to get behind."
Mark Callander, Chief Executive of 2degrees, says the baby bonus is aimed at supporting the next generation of Kiwis as well as marking the "next generation of 2degrees as we continue with our fight for fair. We couldn't think of a better way to celebrate our commitment to a fairer future for all New Zealanders, than by giving a bonus to those Kiwis who share this milestone day.
"We're so excited to see which corners of New Zealand our June 1 babies come from and to give those families a helping hand or perhaps the start of a nest egg for the future."
Callander says 2degrees and Vocus both have long histories as challenger brands in the New Zealand telco market, bringing more value and innovation to the market across prepay and pay monthly mobile, fixed and wireless broadband, as well as business services.
Families who welcomed a new arrival on 1 June 2022 have until 30 June 2022 to register for the bonus. Parents will be required to provide certified copies of their ID and their baby's birth certificate no later than July 31 2022.
The bonuses should be paid by August 31 2022 in a lump sum deposited into a nominated New Zealand bank account.
To find out more including full terms and conditions go to 2degrees.nz/fairerfuture.