Committee Opposes KiwiSaver Protections Bill

The Finance and Expenditure Committee has recommended against passing the Employment Relations (Protection of KiwiSaver Members) Amendment Bill, introduced by Labour's Dr. Tracey McLellan. The bill seeks to reinstate protections for KiwiSaver members, ensuring that employer contributions are not included in total remuneration.

While the bill initially received broad support, the committee, citing complications for employers, now opposes it. The National, Act, and New Zealand First parties argue the bill adds unnecessary hurdles for businesses. Despite this, the Retirement Commission supports the bill, stating it aligns with KiwiSaver's intent to encourage long-term savings with employer support.

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