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Kiwi Saver employer contribution

Bullswool

Hi,

We have an employee who has elected to increase their Kiwi Saver amount from 3% to 8%. It is the company's policy to only match up to 4%.

How do I load this into the NZ Payroll Desktop payroll?

Thanks.

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jenniek

Hi @Isaiah_C @Bullswool

Sai - the link you sent is not correct - it shows all about kiwisaver suspensions @ Bullswool is asking how to increase the kiwisaver for the employee and not the employer. In old MYOB Payroll - you need to go to the Pay defaults page (maintenance-find employee - pay defaults tab). Change the kiwisaver in the rate column from 0.03 to 0.08. This is the employee rate. If you need to change the employer rate - click on compulsayr deductions for same employee and change the employer contribution (funded by employer) from 3 to 4%.

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jenniek

Hi @Bullswool

No worries - glad to be a help.

Bullswool

Thanks @jenniek I was hoping you would reply!
Appreciate your help, as always.

jenniek

Hi @Isaiah_C @Bullswool

Isaiah_C

Hi @Bullswool,

Good on your employee for boosting their KiwiSaver to 8%!

You can definitely load this into NZ Payroll Desktop, but just a heads-up, if your company policy is to match up to 4% then that's what you'd stick to. It's totally up to management if they want to go above and beyond that. Here's a handy link that you can check.

If you've still got questions around the legal bits, it's best to check in with the Ministry of Business, Innovation and Employment (MBIE), they're the go-to for this kind of stuff.

Regards,

Sai