Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

CTU welcomes softening of KiwiSaver stance

MEDIA RELEASE

08 December 2008

CTU welcomes softening of KiwiSaver stance by government

The Council of Trade Unions says that the Government’s consideration of changes to their KiwiSaver stance will soften the blow for low income workers, but fundamental problems still remain.

John Key said today that Cabinet have considered changes to National’s KiwiSaver policy, and the CTU looks forward to seeing further details.

“The CTU raised the whole issue of KiwiSaver with the Government post-election,” CTU Economist Peter Conway said. “In particular we focussed on the disadvantage to low income workers who would get a cut in member tax credits whereas workers over $52,000 contributing at 4% would still be getting at least $20 a week tax credit.”

“The Prime Minister advised us that they were prepared to have another look at that issue and had already identified it as a possible anomaly.”

“The CTU has always supported a 2+2 option but not on the basis of removing the requirement for employers to match up to 4 per cent and the removal of employer tax credits.”

“The CTU has raised many other points of concern about KiwiSaver including the damaging impact on low income workers of the removal of employer tax credits which effectively subsidised employer contributions. This made it less likely that the employer would attempt to offset their KiwiSaver contributions against a wage increase.”

The CTU has commissioned actuarial advice that shows that under the National Party KiwiSaver policy pre-election a 30 year old on $50,000 today would save by age 65 years $199,099 under National Party proposals compared with $341,550 under the current KiwiSaver scheme, Peter Conway said.


ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Back Again: Government Approves TPP11 Mandate

The Government has approved a negotiating mandate for Trans-Pacific Partnership 11 (TPP11), which will ensure New Zealand businesses remain competitive in overseas markets.

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

.

 
 

Gordon Campbell: On Why Labour Isn’t Responsible For Barnaby Joyce

As a desperate Turnbull government tries to treat the Barnaby Joyce affair as a Pauline Hanson fever dream – blame it on the foreigners! We’re the victims of the dastardly New Zealand Labour Party! – our own government has chosen to further that narrative, and make itself an accomplice. More>>

ALSO:

Rail: Greens Back Tauranga – Hamilton – Auckland Service

The Green Party today announced that it will trial a passenger rail service between Auckland, Hamilton and Tauranga starting in 2019, when it is in government. More>>

ALSO:

Housing: Voluntary Rental Warrant Of Fitness For Wellington

Wellington City Council is partnering with the University of Otago, Wellington, to launch a voluntary Rental Warrant of Fitness for minimum housing standards in Wellington, Mayor Justin Lester has announced. More>>

ALSO:

Treaty: Agreement In Principle Signed With Moriori

“The Crown acknowledges Moriori was left virtually landless from 1870, hindering its cultural, social and economic development. The Crown also acknowledges its contribution to the myths that the people of Moriori were racially inferior and became extinct." More>>

ALSO:

Susan Devoy: Call For Inquiry Into State Abuse Reaches UN

Race Relations Commissioner Dame Susan Devoy is in Geneva and has asked a United Nations committee to urge the New Zealand government to initiate an inquiry into the physical and sexual abuse of children and disabled people held in state institutions. More>>

ALSO:

(Not National): Cross-Party Agreement On Pike River Re-Entry

The commitment was signed this afternoon by the leaders of Labour, United Future, The Maori Party, and the Green Party and, together with the earlier commitment by New Zealand First, means that there is now a Parliamentary majority behind the families’ fight for truth and justice. More>>

ALSO:

Earlier:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages

Opening the Election