Hanz, Hospitality Association of New Zealand

As an employer, you are required to make KiwiSaver available to your employees.

To assist you with managing KiwiSaver for your business and with your employees, NZRA and HANZ have jointly appointed ING and Moneyworks. For more information on the Association’s offer:

NZRA HANZ KiwiSaver Flier.doc

KiwiSaver Myth Busters:

KiwiSaver Myth Busters.doc

Employer Obligations:

The Association has developed a comprehensive KiwiSaver Info Sheet which explains in some detail employers obligations and how the KiwiSaver scheme works. This Info Sheet is a must read for all members to ensure they are fully aware of their legal obligations. The Info Sheet can be downloaded by clicking here, or a copy can be mailed or faxed to you by calling 0800 500 503.

KiwiSaver for new employees and employers:

KiwiSaver flow chart.pdf

KiwiSaver Member Tax Credits:

Click here to read an article on Member Tax Credits.

The business facts from Westpac:

Kiwisaver Business Fact Sheet.pdf

Further information:
KiwiSaver is a new, voluntary, work-based savings scheme that commenced on 1 July 2007. It aims to encourage New Zealanders' savings habits and asset accumulation. Inland Revenue will administer the scheme through the pay as you earn (PAYE) tax system. Inland Revenue will forward members' contributions to their KiwiSaver scheme to be invested.People will be enrolled in KiwiSaver when they start a new job and contributions will be deducted from their first pay. They will have eight weeks from starting their new job to decide if they want to opt out. They can do this after their first two weeks of employment. Any contributions already deducted will be refunded.Contributions will be deducted from employees' pay at the default rate of 4% of gross and can be increased, by choice, to 8%. Inland Revenue will hold the contributions for an initial three-month period while members seek financial advice and choose a KiwiSaver scheme. Members can also make one-off lump sum contributions. Savings cannot be withdrawn until you're eligible for NZ Superannuation - currently age 65 - or after you've been in the scheme for five years, whichever is the longer period. Employers are responsible for:

Distributing an information pack provided by Inland Revenue.
Passing on their new employees' details to Inland Revenue.
Deducting employees' contributions and forwarding them to Inland Revenue with their PAYE.
Receiving opt-out notices from their employees and advising Inland Revenue of the opt-out.

The Government will:

Make an upfront contribution of $1000 per person, to be "locked in" until the recipient reaches the age of eligibility for NZ Superannuation or for five years, whichever is the greater;
Make an annual contribution to each member in relation to fees charged by the provider;
After three years of saving, offer a first home deposit subsidy of $1000 per year of membership in the scheme, up to a maximum of $5000 for five years.

If you have any queries, please contact your HANZ Regional Manager on 0800 500 503.

HANZ Awards for Excellence Dinner DVD
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