“The legal requirement is for firms to automatically enrol all new employees from that date,” said Copeland.
“However, existing staff can also sign up for KiwiSaver if they want to. It might therefore make payroll and administrative sense for firms to enrol everyone, except those who deliberately opt out, from day one.
“I’m unashamedly a fan of KiwiSaver and the government sweetener of $1,000 per person raises the stakes in favour of signing up sooner rather than later.
“The same logic applies to the self-employed.”
| « Cullen pours cold water on compulsory savings idea | KiwiSaver default scheme providers announced » |
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