1. Effective from 15 December 2008:
There is no longer a personal grievance created if an employee is treated differently because they are a member of KiwiSaver, although the general unjustified disadvantage personal grievance provisions remain and are untested in this area.
The use of total remuneration to include employer contributions has been modified to ensure that there has been a genuine pay increase. Effectively an employee who agrees to total remuneration approach for KiwiSaver must have had a pay increase at least the equivalent of the employer KiwiSaver contribution.
2. Effective from 01 April 2009:
The default employee contribution will be 2%. It is 4% at present.
The minimum employer contribution will be 2% as at 01 April 2009, but there is no requirement to increase it further in future years.
The employer tax credit will not be available.