Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Employers fine with changes foreshadowed for Kiwisaver

Employers fine with changes foreshadowed for Kiwisaver

Business will be pleased with the Prime Minister's basic plan outlined today aiming to increase the nation's savings to lift economic growth, the Employers & Manufacturers Association says.

"We like the PM's straightforward plan to channel increased government and private savings into more investment in productive equipment, R&D and the like, especially to grow exports," said Alasdair Thompson, EMA's chief executive.

"It will give business more confidence to invest for growth in our economy," he said.

"Increased savings will require raising the minimum amounts going into Kiwisaver, and we look forward to hearing more detail on how and when those will come into play.

"Employers are happy that the minimum amounts will be going up; it won't be a big issue as Kiwisaver contributions must be treated as part of employees' total salary and wages, and the changes are to be phased in over time.

"The reasons for cutting back the tax credit presently allowed for Kiwisaver are easily understood.

"But its good to hear the PM's reassurances the scheme is being kept largely intact for when our economic recovery allows for it to be ramped up once again.

"Nothing is being wiped, including Working for Families and student loans, though the tightening up on repayments prescribed for the latter is long overdue."

© Scoop Media

Business Headlines | Sci-Tech Headlines


Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>


Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>


RBNZ: Super Fund Chief To Be New Reserve Bank Governor

Adrian Orr has been appointed as Reserve Bank Governor effective from 27 March 2018, Finance Minister Grant Robertson says. More>>


ScoopPro: Helping PR Professionals Get More Out Of Scoop has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>

Insurance: 2017 Worst Year On Record For Weather-Related Losses

The Insurance Council of New Zealand (ICNZ) announced today that 2017 has been the most expensive year on record for weather-related losses, with a total insured-losses value of more than $242 million. More>>