The default KiwiSaver employee contribution rate is 3% of an employee's gross pay, but they can choose to contribute a higher rate of 4, 6, 8 or 10%. How much KiwiSaver can be contributed?
The default employer contribution rate is also 3%, but employers can choose to contribute more if they want to.
Here's how to adjust KiwiSaver contributions in MYOB Payroll.
Go to the Maintenance command centre and click Maintain Employees.
Click Select Employee.
Click the Pay Defaults/Totals tab.
For the KIWI (KiwiSaver) pay code, enter the new rate in the Rate column. In this example the rate has been changed to 4%, which has been entered as 0.04000
Go to the Maintenance command centre and click Maintain Employees.
Click Select Employee.
Click the Compulsory Deductions tab and alter the rate as required.
Employer Superannuation Contributions Tax
From 1 April 2012 the Employer Superannuation Contributions Tax (ESCT) exemption no longer applies and ESCT needs to be calculated on the entire employer contribution.
Any voluntary employer contributions are also subject to ESCT. Voluntary employer contributions include any contributions you make:
over and above the compulsory employer contribution rate
to employees aged under 18 or over 65 years of age (and who have been member for more than five years)
to employees on a KiwiSaver savings suspension, or