Legislation containing cuts to KiwiSaver has been introduced to Parliament.
The new provisions are in an omnibus tax bill that also includes a requirement for businesses to impose GST on fees they charge people for late bill payments.
In the May Budget, the Government said the changes to the workplace savings scheme are needed to ensure its future.
They include a halving of government contributions from $1 to 50c for each dollar saved. As well, employer contributions will no longer be tax-free.
In turn, employers and employees will have to contribute more each year, up from 2% to 3%.
The bill will have its first reading in the last week of September, but won't pass before the election.
