Kiwisaver
Apr 12th 2008, 3:18 am
#16
Joined: Nov 2006
Posts: 2,225
Re: Kiwisaver
Sorry to sound cynical (I'm sure not every employer is the same) but welcome to the wonderful world of NZ employment.
Apr 12th 2008, 11:54 pm
#18
Joined: Nov 2006
Posts: 2,225
Re: Kiwisaver
not as long as they keep paying out the LAFHA they're not.(p.s. the pension contribution here is 9% by the way)
Apr 13th 2008, 3:25 pm
#19
Account Closed
Joined: Aug 2007
Posts: 548
Re: Kiwisaver
I'm paying 30% at the moment! 
May 16th 2008, 4:14 am
#20
Happy in Wellington
Joined: Mar 2005
Location: Tawa, Wellington, Aotearoa
Posts: 2,286
Re: Kiwisaver
I Was reading up on Kiwisaver and I found this:
So if they are reducing your salary in the first year, they are making money from it!!
The Government will give your employer up to $20 a week to help them meet the cost of making contributions, so in the first year it won't cost your employer anything if you earn less than $104,000 a year.
Initially, your employer's compulsory contributions must be on top of your regular pay. This means that if you have agreed to a total remuneration package, the compulsory employer contributions must be paid on top of that package. Your take-home pay should not be reduced because your employer is making a compulsory contribution.
Over time, employer contributions may effectively form part of the wage negotiation process, which will be for you and your employer to agree mutually. The Employment Relations Act 2000 requires all employers to act in good faith in their negotiation process and employment agreements.
Initially, your employer's compulsory contributions must be on top of your regular pay. This means that if you have agreed to a total remuneration package, the compulsory employer contributions must be paid on top of that package. Your take-home pay should not be reduced because your employer is making a compulsory contribution.
Over time, employer contributions may effectively form part of the wage negotiation process, which will be for you and your employer to agree mutually. The Employment Relations Act 2000 requires all employers to act in good faith in their negotiation process and employment agreements.
