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Business needs reflected in KiwiSaver Bill

Monday, August 21st, 2006

Business needs reflected in KiwiSaver Bill

Though KiwiSaver is far from the best idea we have seen, Parliament's Select Committee has done a pretty good job in covering off business concerns over complying with it, says David Lowe, Employment Services Manager for EMA (Northern).

The Finance and Expenditure Select Committee is to be congratulated for listening to business on it, he said.

"The original KiwiSaver Bill contained a mountain of compliance costs but the Select Committee has pared them back," Mr Lowe said.

"Many of the excessive compliance costs resulted from IRD's administration of KiwiSaver which was never a good enough reason for heaping on the compliance costs, but the Select Committee has recognized that.

"We foresaw there was always going to be some compliance costs for employers.

"But business and employers were becoming accustomed to Government bulldozing legislation through with no regard to how businesses are run, so this Bill represents some relief."

ENDS

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