KiwiSaver and total remuneration approach to employer contributions

With the recent increase in the minimum rate of KiwiSaver contributions rising to 3% for both employees and employers, it is timely to examine the implications of KiwiSaver from both a financial and legal perspective. Many employers are opting for the total remuneration approach to KiwiSaver in order to minimise the ever increasing costs of the scheme. This approach involves paying all employees the same total remuneration regardless of KiwiSaver... Read More

KiwiSaver employer contributions

With the recent increase in the minimum rate of KiwiSaver contributions rising to 3% for both employees and employers, it is timely to examine the implications of KiwiSaver from both a financial and legal perspective. For employers, there are two approaches to calculating minimum employer contributions to KiwiSaver: the “default” approach and the “total remuneration” approach. The default approach occurs when an employee, who is a member of... Read More

Cabinet approves sleepovers agreement

12 September 2011, Tony Ryall The Government will contribute $90m towards phasing in the minimum wage for disability support workers on overnight sleepover shifts. Health Minister Tony Ryall says: “Cabinet this morning agreed to provide $90 million towards phasing in minimum wage rates by July 2013, and $27.5 million towards the back pay liabilities of the providers.”  IHC and other providers are also putting in money.  “People with disabilities... Read More