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latest news in employment law

KiwiSaver Minimum Contribution Increase

Published 18 Mar 2013

The minimum Employee contribution rate increases from 2% to 3% for all members. This change will require Employers to raise the level of payroll deduction for Employees who are currently contributing at the 2% rate.

Compulsory Employer contributions: Similarly from 1 April 2013 the minimum Employer contributions to KiwiSaver accounts also increases to 3%. This will require Employers to increase their contributions (except where already contributing at or above 3%).