Over 46,000 New Zealanders have missed out on employer contributions to their KiwiSaver accounts, but the Revenue Minister refuses to chase up the millions of dollars which is outstanding, says Labour’s Finance spokesperson Grant Robertson.
“KiwiSaver has been an extremely popular legacy of the last Labour Government, despite the Government gradually eroding it. Hard-working New Zealanders put their money in and expect it to be matched by their employer.
“If it isn’t, they at least expect IRD to chase it up. But under National that’s not going to happen.
“Tax consultant Terry Baucher has said that IRD is often too slow to act and needed to do more to ensure employees get what they are entitled to
“In Parliament today Michael Woodhouse was incredibly blasé, saying that of the $10 million in unpaid employer contributions, the average amount is only around $200 so it wouldn’t be chased up. He is completely out of touch.
“Not only will the investments be worth more when the person retires, many of the individual amounts could be much higher. Regardless, the Minister has an obligation to work for all taxpayers not just the wealthy few.
“Michael Woodhouse needs to make sure the IRD gets onto these cases quickly to ensure an acceptable solution that doesn’t leave employees out of pocket for their retirement.
“The Minister has yet again shown his tin ear for important public issues. KiwiSaver is a key part of the Kiwi Dream of a safe and secure retirement. Michael Woodhouse is letting down New Zealanders,” says Grant Robertson.