Make employer contributions compulsory at 6%, set the employee contribution default at 4%

Labour has pledged a range of KiwiSaver changes. It says it will:

• Make employer contributions compulsory and lift to 6% by 2032, including when employees reduce or pause their own contributions.
• Set the employee default at 4%, remove the minimum contribution rate and give employees more flexibility to choose their rate as circumstances change.
• Ban new total remuneration contracts that absorb employer KiwiSaver contributions into salaries.
• Extend employer contributions to workers over 65.
• Keep KiwiSaver growing for parents while they’re on paid parental leave.
• Explore more flexible KiwiSaver options for self-employed New Zealanders.