Hiding in plain sight: use KiwiSaver to fund redundancy insurance

Hiding in plain sight: use KiwiSaver to fund redundancy insurance
How smart would it be to swap a social insurance levy with a compulsory savings top up? (Image: Getty)
David Chaplin
Of all the big ideas currently spewing forth from the mouths of government spokespeople, the proposed redundancy income insurance scheme is perhaps the most whiffy.Privately, many in the investment industry are incredulous that Business New Zealand and the New Zealand Council of Trade Unions have backed an idea that at first glance appears counter to the interests of members of both lobby groups: for business, the mooted income insurance levy of 2.8% will incur both direct and indirect costs; while the scheme would offer outsize benefits to hig...

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