Compulsory saving through the superannuation levy and proposals to increase the mandatory levy are another government policy driven by the fear of excessive costs to the government budget in the future.
Meanwhile some downsized staff have been re-engaged at lower costs (no holiday pay or superannuation costs) as outside contractors.
The legislation cannot apply to certain state superannuation funds because they are protected from revenue measures under the constitution.
a superannuation fund
In most cases, New Zealand Superannuation will make up the bulk of this income, although you may have private superannuation or other investments in place which will make regular payments.
Today, social security benefits, superannuation schemes and other forms of insurance cushion us from the very worst effects of death, retirement, unemployment and chance misfortunes.
Such resources as were available needed to be preserved for existing structures, particularly as the union was in the process of setting up a superannuation fund.
But once you get bigger you find that the Government makes you pay superannuation , workers compensation; all these things that are very adult.
Women, those aged under 35 and those with little knowledge of superannuation were over-represented in finding the decision difficult.
It is different from normal insurance where people have a choice of how much insurance and what kind they need; and of course it is different from private superannuation schemes for the same reasons.