August 24, 2006

Super campaign for super contributions

The Engineering, Printing and Manufacturing Union will launch a major superannuation campaign off the back of the revamped KiwiSaver scheme.

“Our first goal was to make the KiwiSaver scheme workable for ordinary working New Zealanders,” said EPMU national secretary Andrew Little.

“We’ve done that by persuading the Government to include employer contributions in the minimum savings level of four per cent of wages. Our next target is to get employers to contribute.”

Mr Little said that details of that campaign were being worked through and would be announced early next year.

“But it’s safe to say that claims for employer contributions to the KiwiSaver programme will be a major part of our industrial strategy next year,” he said.

Mr Little welcomed other changes to the scheme, including the ability to use savings to pay off a home mortgage, and a Government contribution of $5000 towards a first home.

“This scheme will help working people to build wealth, while at the same time creating a pool of capital available for the development of the country,” he said.

ENDS

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