Finance, accounting workers cool on KiwiSaver

Workers in the finance and accounting sector are split over the merits of KiwiSaver, but their generous bosses seem willing to put in more than required, according to a new survey.

The research, conducted by recruitment company Robert Half showed that 47 per cent of finance and accounting workers do not plan to join KiwiSaver, while 41 per cent are in the scheme. Another 12 per cent expect to join up in the next six months.

More than a fifth (21 per cent) of employees told Robert Half they would accept a slightly lower salary in return for greater KiwiSaver contributions from their employer.

The survey showed 82 per cent of those already in KiwiSaver were putting in 4 per cent of their wages and salaries, with only 11 per cent planning to cut this to 2 per cent.

When this survey was done in January and February this year, a "surprising percentage" - 74 per cent - were contributing more than the legal minimum of 1 per cent to KiwiSaver accounts, said Robert Half.

Compulsory employer contribution rose to 2 per cent on Wednesday, April 1.

Almost three-quarters of those surveyed (74 per cent) said their employers were already contributing 2 per cent while 23 per cent said their employers were contributing 4 per cent.

Robert Half senior manager Megan Alexander said the survey showed that KiwiSaver had become a major part of the remuneration package for finance and accounting professionals, and employers needed to seriously consider what they had to offer.

The finding that 21 per cent of employees would accept a slightly lower salary for increased KiwiSaver contributions offered employers another option for flexibility around pay and benefits, said Alexander.

Robert Half said the online survey attracted responses from 958 finance professionals, evenly split between men and women, 64 per cent of whom had 10 or more years' experience. Survey questions are sent to a database of these workers, who can choose whether to respond or not.

- HERALD ONLINE