KiwiSaver members keep payments up

More than 80 per cent of finance and accounting professionals say they will not be reducing their KiwiSaver contributions despite changes which mean they can now contribute just 2 per cent, a survey has found.

The Robert Half Auckland salary survey of 958 professionals found that 84 per cent would keep it at 4 per cent and 3 per cent planned to increase their contribution to 8 per cent.

Only 11 per cent would drop it to the new minimum level introduced by the Government on April 1.

Robert Half senior manager Megan Alexander was surprised more people were not dropping down, given the tough economic climate. She put the reluctance to change down to apathy.

"People have signed up, the employer is contributing - many cannot be bothered to change anything."

She said those questioned generally earned $45,000 to $120,000 so the survey did not take into account the low-paid.

It also found that many companies were offering higher contributions than the minimum requirement.

Of those surveyed, 74 per cent said their employer was already contributing 2 per cent before April 1 when it became compulsory.

A further 23 per cent said their employer was already contributing 4 per cent. Under the original Labour Government plan, employer contributions were supposed to increase to 4 per cent by 2011 but will now stay at 2 per cent.

Alexander said the survey showed KiwiSaver had become a tool employers used to attract staff.

The survey found 41 per cent of the professionals were already signed up to KiwiSaver and 12 per cent intended to join in the next six months.