Kiwisaver is not just yours! BEWARE!

[davereid]

Ha ha. NO! I guess there will be some employers out there that did that but not mine. As Human Resources/Payroll dude I saw the figures, was part of the process and know that my employer took the hit on the chin.

That of course is not a "win".

As your employer has to be competitive in the "global environment" that our political masters are so fond of, long term it is just part of your pay.

For one year, maybe two its an issue for your employer. It may have been enough, when coupled with the increase in the minimum adult wage, to close a few businesses. But those that survive, don't actually care about your take home pay.

An employer is interested in labour cost, per unit of production.

Not because he is a capitalist prick.

Simply because he is not a charity.

Most Kiwi Businesses are Mom-and-Pop operations. If the money they got from mortgaging the home does not get repaid, they are stuffed.

So, if making widgets in Manakau can't be done economically, they will lose their home and look for something else.

You get to look for a new job. That Fat National chick on the telly gets to make some new excuses about unemployment.

And someone else gets the job.

[Oakie]

That of course is not a "win".

As your employer has to be competitive in the "global environment" that our political masters are so fond of, long term it is just part of your pay. .

Ah, it was your assumption that was wrong. I work for a not-for-profit largly funded through a Ministry of Health contract. The year in question our funding was increased 2.5% and we increased wages 2.5%. Obviously then, wages were increased to the full extent possible under the contract increase given. To be honest I did do a wee exercise around the then new KiwiSaver to see if we could mitigate the damage somehow but when I presented it the GM just said not to worry ... "we'll take the hit"

[Hoon]

To date I've put in $1370 of my own money and my balance is at just under $5000. You just can't convince me that KiwiSaver is a bad thing. Sure, there's a chance that something bad could happen to the provider I've chosen but there is a deal of protection there so I'm quite comfortable.

Same, I'm getting ridiculous returns on my kiwisaver after posting on here a few years ago - funny that thread has the same people still saying the same things. Like you I'm not too fused about what the naysayers say, their loss after all. You could argue til the sun goes down about the best way to invest your money. All of them have risks - just diversify. Like I have a house, shares, term deposits, savings, assets and now kiwisaver too.

WRONG....That 2 % has already been taken from your wage increases by your boss

Sorry your boss is a cock if he's doing that. I'm still getting paid the same as the guy working next to me who isn't on kiwisaver. In fact those that approve my pay raises don't even consider my kiwisaver status, because they're probably on it as well.

[Hoon]

With the new budget the government has pulled in the reins on the Kiwisaver giveaway. Yeah I'm a little pissed missing out on a free $500 a year but still I'm glad I got my slice of the action while it lasted. Also feel a little for the employer who is also taking a bit more of a hit.

While the scheme is still attractive, it is no longer a no brainer (for me anyway) and John Key is dreaming if he thinks it'll still have the same appeal as before. I'm guessing this is just a precursor to making Kiwisaver compulsory sometime in the near future when they'll probably chop back the $1000 quick start as well.

[oneofsix]

With the new budget the government has pulled in the reins on the Kiwisaver giveaway. Yeah I'm a little pissed missing out on a free $500 a year but still I'm glad I got my slice of the action while it lasted. Also feel a little for the employer who is also taking a bit more of a hit.

While the scheme is still attractive, it is no longer a no brainer (for me anyway) and John Key is dreaming if he thinks it'll still have the same appeal as before. I'm guessing this is just a precursor to making Kiwisaver compulsory sometime in the near future when they'll probably chop back the $1000 quick start as well.

compulsory? Now that would be a good earner for the private companies running Kiwisaver.

[Bald Eagle]

compulsory? Now that would be a good earner for the private companies running Kiwisaver.

Well I still think it's a bit of a joke, i "opted out" on my employers paperwork when I started my current job, the tax man sent me a letter saying I couldn't opt out 'cos i'd already been auto opted in when I had a part time job.

My employer doesn't take kiwisaver out of may pay check, the govt put my $1000 in and everybodys happy

[Bald Eagle]

compulsory? Now that would be a good earner for the private companies running Kiwisaver.

It already is if you're not quick enough to opt out on your first employment. If you miss that one time opportunity you're screwed.

[oneofsix]

It already is if you're not quick enough to opt out on your first employment. If you miss that one time opportunity you're screwed.

True, then all you can do is keep changing scheme providers but I guess its a bit like the old DVD regions, limited number of changes allowed.

[racefactory]

The bottom line is to never get married.

That's right, don't give in to the bitches. Unless they are willing to accept sodomy in monogamy.

[Smifffy]

I have work super, and had avoided kiwisaver because I thought it would be a political football.

Halfway through the Nats reign, and it looked to me like they were going to maintain the status quo, and it would be largely exempt from political tampering.

I joined at the beginning of this year

[avgas]

That's right, don't give in to the bitches. Unless they are willing to accept sodomy in monogamy.

I personally would not marry a woman that want to fuck me in the arse.
Its bad enough dealing with the government

[Gremlin]

I don't like the idea of government compulsion, myself. It seems they grab enough of our income through all the bloody taxes and rates without taking control of more of my money. If I want to save I will do it myself on my own terms. I'd rather have the freedom to access my money when I wish, and not have to wait until I am 65, or whatever age they decide I can have it.

To me, having this freedom is worth turning down their $1000 startup and ongoing contributions.

My 2 cents.

Wot she sed.

They fuck up with all the money they already have, I ain't giving any more. I'll manage my own money thanks.

[jim.cox]

Wot she sed.

They fuck up with all the money they already have, I ain't giving any more. I'll manage my own money thanks.

Yeah - me too

I just dont trust the pricks - even more so given the latest budget fidling

And a free grand when I'm old enough to retire (hah!) isnt going to sway that opinion

[RDJ]

Ah, it was your assumption that was wrong. I work for a not-for-profit largly funded through a Ministry of Health contract. The year in question our funding was increased 2.5% and we increased wages 2.5%. Obviously then, wages were increased to the full extent possible under the contract increase given. To be honest I did do a wee exercise around the then new KiwiSaver to see if we could mitigate the damage somehow but when I presented it the GM just said not to worry ... "we'll take the hit"

We need to reflect reality here IMO

I work for a not-for-profit largly funded through a Ministry of Health contract
=
largely funded by taxpayers

when I presented it the GM just said not to worry ... "we'll take the hit"
=
"not to worry, we'll get the taxpayers to take the hit"

[phill-k]

Absolutely normal, as for all matrimonial property.

Don't let this stop you joining Kiwisaver though.

It is imperative that you join, get $1000 from the Govt for doing so, a yearly subsidy on your fees and a nest egg when you turn 65.

Just watch who you choose as your provider.
Most of them put your money into unit trusts which makes more money for the provider than you.

I recommend Gareth Morgan investments. He is my providor and also a motorcyclist.

Check out the various providers ratings morgan only rates in the middle, there are much better providers out there