Pensions
Nov 3rd 2007, 9:31 am
#16
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Posts: 548
Re: Pensions
Sorry to hear about your hubby lou !
Nov 3rd 2007, 9:33 am
#17
life finally begins in NZ
Joined: Sep 2007
Location: wellington, nz
Posts: 75
Nov 3rd 2007, 9:35 am
#18
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Posts: 548
Re: Pensions
That might be just too much info!
Nov 3rd 2007, 9:41 am
#19
life finally begins in NZ
Joined: Sep 2007
Location: wellington, nz
Posts: 75
sorry 
Nov 3rd 2007, 10:27 am
#20
Forum Regular
Thread Starter
Joined: Oct 2007
Location: East Auckland
Posts: 277
Re: Pensions
The offer seems quite clear- they will not be paying the employers contribution:
XXX does not have its own superannuation scheme. You may participate in KiwiSaver or
contribute to a private superannuation scheme.
If you choose not to opt out of KiwiSaver, your contribution will be deducted from your taxable salary and paid directly on your behalf to the IRD. Any employer contributions required to be made will be deducted from your taxable salary.
If you choose to opt out of KiwiSaver but to participate in a private superannuation scheme of your choice, XXX will contribute on your behalf an amount nominated by you from your taxable salary to the nominated scheme.
If you choose not to contribute to KiwiSaver nor any other superannuation scheme, your total taxable salary will be paid to you in full.
It may be a typo?
Mr Moomoo
XXX does not have its own superannuation scheme. You may participate in KiwiSaver or
contribute to a private superannuation scheme.
If you choose not to opt out of KiwiSaver, your contribution will be deducted from your taxable salary and paid directly on your behalf to the IRD. Any employer contributions required to be made will be deducted from your taxable salary.
If you choose to opt out of KiwiSaver but to participate in a private superannuation scheme of your choice, XXX will contribute on your behalf an amount nominated by you from your taxable salary to the nominated scheme.
If you choose not to contribute to KiwiSaver nor any other superannuation scheme, your total taxable salary will be paid to you in full.
It may be a typo?
Mr Moomoo
Nov 3rd 2007, 10:35 am
#21
Happy in Wellington
Joined: Mar 2005
Location: Tawa, Wellington, Aotearoa
Posts: 2,286
Re: Pensions
From that, they're not contributing anything!
We asked if our place will be contributing anything on our behalf. The reply was "We will comply with the requirements". So no, basically!!
We asked if our place will be contributing anything on our behalf. The reply was "We will comply with the requirements". So no, basically!!
Nov 3rd 2007, 10:40 am
#22
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Joined: Jul 2007
Posts: 1,008
Re: Pensions
Mr Moomoo again- I have looked on Kiwi saver and it appears that there is to be a mandatory employer contribution of up to 4% by 2011. My job offer seems to suggest that this employers contribution will be deducted from my salary.........this can't be normal surely?
Mr Moomoo
Mr Moomoo
Nov 3rd 2007, 11:04 am
#23
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Joined: Nov 2005
Location: Vale of Glamorgan
Posts: 268
Re: Pensions
Or you can download it from the IRD website http://www.ird.govt.nz/forms-guides/...info-pack.html) or search for the KS3 form if the link doesn't work.
Nov 10th 2007, 6:42 pm
#24
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Posts: 548
Re: Pensions
" contributions will be deducted from your taxable salary" Moomoo does this mean you don't get tax relief on these payments?
Nov 11th 2007, 6:14 am
#25
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Thread Starter
Joined: Oct 2007
Location: East Auckland
Posts: 277
Re: Pensions
I think it means that the contribution is calculated on the basis of my gross salary but I will get the tax relief from the Government
m
m
Nov 11th 2007, 11:20 pm
#26
Sleazy Dippin Doodle
Joined: May 2007
Location: wellington
Posts: 1,363
Re: Pensions
The compulsory payment by employers is an interesting one actually. It is not completely unlikely that over the next few years employers will start using the terms salary package even more than they do now to compensate for the amount they have to pay for kiwisaver and might possibly (possibly) not provide pay increases as readily.
Of course I use the term 'readily' that then realise that 4% is probably more than the 'increase' i got recently so I personally would still be better off!
Of course I use the term 'readily' that then realise that 4% is probably more than the 'increase' i got recently so I personally would still be better off!
Nov 12th 2007, 6:19 am
#27
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Joined: Feb 2005
Location: Tyneside for now. Soon to be Welly!
Posts: 418
Re: Pensions
If you qualify for both which is best to take NZ Super (pension) or UK OAP 
