Workplace Savings Schemes

Workplace savings schemes are not common in New Zealand, however, they can have a very useful place, especially for business owners.

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For business owners it offers advantages such as:

• Increased employee retention: Reduce your turnover.

• Flexibility in designing the plan: the company chooses how it’s set up.

• Allows for incentive programs: additional compensation provided for classes of employees.

• Earlier access to retirement money: it can be arranged to allow for withdrawals by age 55.

 

The structure is similar to KiwiSaver, however it gives more autonomy to both the employers and employees, which is a win-win. We help both business owners set up these plans and assist employees through the administration and enrolment.

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