KiwiSaver changes
Posted by: Peter Tolan - Director
Date: 08 April 2013
The minimum employee contribution rate will increase from 2% to 3% in relation to salary and wages for pay periods that commence on or after 1 April 2013.
The 3% rate will apply to both existing KiwiSaver members and to all new members who join KiwiSaver on or after 1 April 2013.
Employees who have previously chosen a rate of 4% or 8% will continue to make contributions at these higher rates.
The compulsory employer contribution rate will also increase from 2% to 3% in relation to salary or wages for pay periods that commence on or after 1 April 2013.