Financial Services Council calls for KiwiSaver contributions to be paid on top of wages
The Financial Services Council wants employers to pay KiwiSaver contributions separately from total remuneration packages rather than deducting them from overall pay.
The Financial Services Council is pushing for a phase-out of total-remuneration packages, arguing that employer KiwiSaver contributions should be genuinely additional to employee wages rather than deducted from their overall package. The council's chief executive says employer contributions should be "exactly that – the employer's contribution" and not offset against total pay.
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Financial Services Council wants KiwiSaver paid on top of wages
The Financial Services Council wants New Zealand to phase out total-remuneration packages, stopping employers from taking their KiwiSaver contribution out of their employees' overall package. The FSC's chief executive Kirk Hope said employer contributions should be “exactly that – the…