February 28, 2006

Media Release
Kiwi Saver good, but bosses should chip in

The country’s largest union says that the Kiwi Saver retirement savings scheme introduced to Parliament today is a good step for workers, but that employers should be making contributions.

Engineering, Printing and Manufacturing Union national secretary Andrew Little said that the union would be putting up claims in all employment negotiations for employer contributions to the scheme.

“Our members have told us that retirement income is a major issue,” he said.

“We welcome the Kiwi Saver scheme as an important step on the road to allowing working people to secure a decent retirement income, but employers should be aware that we will be asking them to contribute.”

Mr Little said that the minimum contribution of four per cent of wages would be a barrier to some workers taking advantage of the scheme.

“We will be recommending that workers should be encouraged to make any contribution they can, regardless of how small it is,” he said.

ENDS

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