Make Kiwisaver compulsory: CEOs

A big majority of chief executives want KiwiSaver made compulsory. Seventy-seven per cent of respondents to the Herald’s CEO survey are in favour of compulsion, which is a key Labour Party election plank. But 40 per cent do not agree with Labour’s plan to return to pre-funding National Superannuation liabilities through re-starting contributions to the

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KiwiSaver best performers revealed: conservative, defaults

Default and conservative KiwiSaver funds with low exposure to shares and property have been the best performers for the quarter ended September 30, and the past year, according to Mercer’s KiwiSaver Survey. Mercer, an international investment consultancy, said global volatility continued to affect KiwiSaver fund returns. While KiwiSaver diversified funds largely produced negative results for

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Firms face back-pay nightmare

Staff who receive part of their pay in bonuses could find they’ve been short-changed on holiday pay due to employer confusion over changes to the Holidays Act. Global recruitment firm Adecco is facing a big back-pay bill after wrongly calculating holiday pay – a mistake that’s said to be tripping up other employers. The underpayment,

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National’s youth wage plan

Prime Minister John Key has told employers that new National policies including lower wages for many teenagers and a weakening of the influence of unions would provide more jobs and given businesses the flexibility to expand. Announcing National’s employment relations policy at a Employers’ and Manufacturers Association breakfast, Mr Key said a new ‘starting-out’ wage

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Labour promises ‘tough decisions’

Labour leader Phil Goff has officially launched his party’s election campaign by confirming he would take the \”tough\” decisions to make KiwiSaver compulsory and raise the age of eligibility for NZ super to 67. \”New Zealand is facing some very big issues – our high private debt, lack of savings, and the looming costs of

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Warning over cost of KiwiSaver plan

KiwiSaver auto-enrolment could be costly and time-consuming for default providers of the savings scheme and frustrating for workers, says the chairman of a superannuation industry body. Finance Minister Bill English announced yesterday that the Government would proceed with enrolling all working-age New Zealanders in the scheme – with the option to opt out – in

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National plans ‘bit of a shove’ to get workers into KiwiSaver

National is planning to give employees not already in KiwiSaver \”a bit of a shove\” by automatically enrolling them in the scheme but Labour says the move is timid and promises its policy will give KiwiSaver a bigger push. Finance Minister Bill English said yesterday that after considering a recommendation this year from the Savings

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Labour vows to repeal Hobbit law

A Labour-led government would change the law around film workers, even if it meant losing the The Hobbit films overseas, as part of a major policy release around employment relations. The Work and Wages policy, released yesterday, has at its centrepiece the establishment of an independent Workplace Commission to set minimum standards of pay, conditions

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Labour Party launches work and wages policy

The Labour Party wants minimum pay and work conditions to apply across certain sectors in order to scratch out anomalies, such as workers being paid different rates for the same job. Party leader Phil Goff and labour issues spokeswoman Darien Fenton launched the party’s work and wages – previously called employment relations – in Hamilton

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KiwiSaver auto-enrolment go-ahead

Any working age New Zealanders not already in KiwiSaver will be automatically enrolled in the scheme in a bid to improve the country’s savings – but not until the 2014/2015 financial year the Government says. Finance Minister Bill English this afternoon said his Government had considered KiwiSaver auto-enrolment and decided to go ahead with the

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Extent of IRD search powers ‘scary’

Tax firm Deloitte is reminding the public of the Inland Revenue’s \”scary\” search powers after a decision in the High Court. Deloitte said a ruling after the Inland Revenue seized documents from properties linked to former Dragons’ Den star Paul Webb and his business associate Andrew Tauber illustrates the extent of the tax man’s reach.

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Demand for women’s pay data

The Labour Party wants to make employers release details about pay levels of women staff compared to men under its new policy to redress pay inequity. Companies could also be made to report on the number of women and the level at which they are employed in a bid to increase the numbers of women

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ACC levy cuts coming after $3.545b surplus revealed

ACC levies for workers and bosses will be cut from next April, saving the average wage earner about $170 a year, says ACC Minister Nick Smith. Dr Smith also said the Government may widen its plan to allow private insurers to compete with the ACC by opening up the market for motor vehicle and non

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$100m deal ends pay ‘struggle’ for all-night disability workers

About 5700 of the country’s lowest-paid workers have won a landmark $100 million deal to pay them the minimum wage for overnight sleepover shifts from Christmas next year. The Service Workers Union says Health Minister Tony Ryall has agreed to recommend legislation to the Cabinet on Monday to raise sleepover rates for disability support workers

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