Minister of
Commerce and Consumer Affairs
Hundreds of thousands
of New Zealanders will be significantly better off in
retirement following changes to the default KiwiSaver
scheme, Finance Minister Grant Robertson and Commerce and
Consumer Affairs Minister David Clark said today.
The
new default provider arrangements, which will take effect
once the terms of the current providers ends on 30 November
2021, mean those joining the scheme at 18 could have an
extra $143,000 at retirement through lower fees and higher
investment returns.
Around 381,000 members are
currently in the default fund they were automatically
allocated to when they started a new job, because they did
Finance Minister Grant Robertson says he deeply regrets the distress caused by public sector pay restrictions, but maintains the restrictions do not amount to a pay freeze.
Thursday, 13 May 2021, 8:52 am
There has been a desperate and palpably false rumour
circulating in recent weeks that the resignation of the
Prime Minister is imminent. Meanwhile, Jacinda Ardern
remains just as firmly ensconced in office as she ever was.
However, it does raise the intriguing question of just who
might take over as leader of the Labour Party in the most
unlikely event the Prime Minister decides to move on any
time soon.
The general view has been that Finance
Minister Grant Robertson would be best placed to become the
next Labour leader. After all, he is the current Deputy
Public sector pay freeze: Grant Robertson deeply regrets causing distress
12 May, 2021 09:03 PM
4 minutes to read
PM Jacinda Ardern describes the government s meeting with the Public Service Association as constructive, referring to last week s wage freeze announcement as a pay guidance. Video / Mark Mitchell
PM Jacinda Ardern describes the government s meeting with the Public Service Association as constructive, referring to last week s wage freeze announcement as a pay guidance. Video / Mark Mitchell
RNZ
However he maintains the restrictions do not amount to a pay freeze, or austerity. I don t see it that way and the reason is this . ultimately what . was released was the public sector pay guidance and that s what guides public sector chief executives when they are going to go into negotiations but that s the starting point, this is in most instances a collective bargaining process from which there will be the final outcomes.