$3.5B a year income insurance proposal unveiled

Pattrick Smellie
Wed, 02 Feb 2022

$3.5B a year income insurance proposal unveiled
The new scheme would help cushion the workforce and government finances in times of economic hardship. (Image: Deposit Photos)
Pattrick Smellie
Wed, 02 Feb 2022
Workers and their employees will each pay 1.39 cents in the dollar in new annual levies to fund a proposed national income insurance scheme that will buffer workers who lose their jobs through restructuring, recessions or personal illness.A public consultation document on the proposed scheme was published today, based on the work of a tri-partite group involving the government, Business New Zealand, and the NZ Council of Trade Unions.It would be administered by the Accident Compensation Corp and funded by a levy system similar to the way the no...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

My Net Worth FREE
My Net Worth: Zac Stephenson, managing director, MediaCom
Daniel Dunkley | Sun, 03 Jul 2022

MediaCom managing director Zac Stephenson says he's proud of surviving in the media industry, which can be stressful and intense. 

Finance FREE
Money Answers: what's the best share investing strategy in a recession?
Frances Cook | Sat, 02 Jul 2022

Spreading your money through good quality companies, then leaving it alone for a few years is the boring but most likely way to build wealth for most of us. 

On the Money
On The Money: Air NZ's feeding frenzy, Kerry Prendergast's movie date, and more
Pattrick Smellie | Sat, 02 Jul 2022

In this week's OTM: Greg Foran's preference for pies, Kerry Prendergast's future at the film commission, a blast from the past from Enable Networks, and more...

Digital innovation could shape the future of NZ

The digital age allows us to collaborate on some of our greatest scientific and environmental challenges

Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.