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

 

Media: NZME 'In Discussions' To Buy Stuff

NZME confirms that it is in discussions with Stuff’s owners Nine and has put a proposal to the Government regarding a possible transaction. However, NZME notes that these discussions are preliminary... More>>

Consultation: Plan Of Action To Protect Seabirds

The draft National Plan of Action plan outlines the Government’s commitment to reducing fishing-related captures of seabirds, with clear goals and objectives, supported by an implementation plan. More>>

ALSO:

Housing Issues: Fairer Rules For Tenants And Landlords

The key changes include: - Limit rent increases to once every 12 months and banning the solicitation of rental bids by landlords. - Improve tenant’s security by removing a landlord’s right to use no cause terminations to end a periodic tenancy agreement... More>>

ALSO:

Reserve Bank: Official Cash Rate Unchanged At 1 Percent

The Monetary Policy Committee has decided to keep the Official Cash Rate (OCR) at 1.0 percent. Employment remains around its maximum sustainable level while inflation remains below the 2 percent target mid-point but within our target range... More>>

ALSO:

Food Prices: Avocados At Lowest Price In Almost Three Years

Avocados are at their cheapest average price since February 2017, with tomato, lettuce, and cucumber prices also falling, Stats NZ said today. More>>