Supplementary Order Paper No 81

No 81

House of Representatives

Supplementary Order Paper

Thursday, 21 May 2015

KiwiSaver Budget Measures Bill

Proposed amendment

James Shaw, in Committee, to move the following amendment:

Clause 5

Replace clause 5 (page 2, lines 22 and 23) with:

5 Section 226 amended (Crown contribution: kick-start contributions)

In section 226(1), replace “is a member, or must become a member as provided by section 15(1)⁠(b) or 36(1)⁠(b),” with “is a member, or must become a member as provided by section 15(1)⁠(b) or 36(1)⁠(b), and holds a community services card issued pursuant to the Health Entitlement Cards Regulations 1993,”.

Explanatory note

This Supplementary Order Paper retains the $1,000 KiwiSaver kick-start contribution for those who hold a community services card. Evidence is that savings are lower amongst lower income people, so this will help to incentivise those on a lower income to save.