As an employer, you will play an important role in helping your employees to save with KiwiSaver. We have designed KiwiSaver to use your existing payroll process, and minimise any extra work for you.
Your main roles in KiwiSaver are to:
- check whether new employees are eligible to join KiwiSaver
- check whether new employees should be automatically enrolled
give the KiwiSaver employee information pack (KS3) to:
- new employees who qualify for automatic enrolment, and
- existing employees who want to opt in
- automatically enrol all new employees who are eligible
provide information to us about:
- all new employees who are automatically enrolled, and
- eligible employees who have opted in to KiwiSaver
- provide new employees with a written statement if you have an employer-chosen scheme, and also that scheme's investment statement
- deduct KiwiSaver contributions and make compulsory employer contributions (from 1 April 2008) at the correct rate and forward them to us by the due date along with your PAYE payments
- act on opt-out and contributions holiday requests
- stop or start deductions when we advise you to
- contact us when you require more KiwiSaver employee information packs (KS3).
Find out more about your KiwiSaver obligations.
You don't need to promote KiwiSaver to your employees, but if you want to be more involved in encouraging retirement saving among your employees you can:
- make additional employer contributions on behalf of your employees
- provide your own employer-chosen KiwiSaver scheme.
You can also continue to offer your existing superannuation scheme to your staff.
Date published: 24 Mar 2009