The coalition Government is apparently considering further extending mandatory employer contributions for the over 65s according to Deputy Prime Minister Winston Peters.
Currently, employers are not required to make employer contributions for staff on KiwiSaver over 65 years old. This can mean an employee effectively earns less after their 65th birthday if the employer opts out at that point.
“The current law is discriminatory in that it reduces pay purely on the basis of an arbitrary birthday" says Martin Hawes the current Chair of Summer KiwiSaver Investment Committee.
Interesting to see where this goes since our Prime Minister Jacinda Adern would not be drawn on comments around this, and the current Government currently ceases their employer contributions at 65.