New Employees From 1st July 2007
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The automatic enrolment rules of Sections 9 to 15 apply to all employees that start from 1st July 2007. -
Note in the screen below Ace Payroll not only indicates the employee membership status, but also explains why the employee is a member.
The following options are available from the above screen: Membership Status Contribution Rate -
The contribution rate is determined by Section 64 of the Act. -
Every member must contribute at least 4% of gross wages, reducing to 2% on 1st April 2009. -
An employee can choose to contribute 8% of gross wages. -
An employee cannot choose to contribute at a rate different from 4% or 8%, or 2% from 1st April 2009. -
For more information see our FAQ KiwiSaver Contribution Rates. Contribution Holiday -
Contribution holidays are provided for by Sections 102 to 114 of the Act. -
Contribution holidays can only be allowed by the IRD. An employee cannot ask their employer for a contributions holiday. -
The IRD advises the employer if a contributions holiday has been allowed. -
With this option set in Ace Payroll, no KiwiSaver deductions are made from the employee. -
For more information see our FAQ KiwiSaver Contributions Holiday. Deduction Report -
This report shows all the employee's KiwiSaver deductions. | |