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...

More Finance

Budget 2024: tax relief on, surplus further off
Finance

Budget 2024: tax relief on, surplus further off

The package will be less generous than National’s election campaign promises.

Pattrick Smellie 27 Mar 2024
New Guardians of NZ Super CEO appointed
Finance

New Guardians of NZ Super CEO appointed

Townsend will be its first external CEO appointment since Adrian Orr in 2007.

Staff reporters 27 Mar 2024
Russia’s backdoor to the global banking system slamming shut
Finance

Russia’s backdoor to the global banking system slamming shut

Major Dubai lender has scaled back Moscow business, and Turks are now more cautious.