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Guest Post: KiwiSaver, the Employment Contract and Budget 2025
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Guest Post: KiwiSaver, the employment contract and Budget 2025
A guest post by Michael Littlewood: KiwiSaver is about to change again. The Budget announced an increase in the minimum employee contribution (from 3% to 4%) over three years and in the matching minimum contributions paid by employers. The government is also cutting its own contribution from a 50% match to the first $1,042.86 of members’ contributions to 25%. So, the maximum taxpayer subsidy drops from $521.43 a year to $260.72. It will also be …
According to a report by NZ Herald on June 10, data from the Inland Revenue Department showed that more than NZ$389.4 million was withdrawn from KiwiSaver due to financial hardship between July 2024 and April 2025, higher than the NZ$300.5 million in the year ending June 2024.
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