KiwiSaver delivers at Pronto Print

Workers at Pronto Print in Wellington have had a good boost to their retirement savings after negotiating a 6.5% deal with 4% going into their KiwiSaver accounts.

The deal means the workers who take up the KiwiSaver option will get a $1000 lump sum payment from the government and up to $20 a week on top of the 8% they and Pronto contribute.

EPMU organiser John Kerr says the result shows members are thinking long-term. “This actually means more than a six and a half percent pay rise for these guys once the government contribution is factored in.”

“That’s a really good deal and it shows the value KiwiSaver can have for workers,” says Kerr, “but Pronto will get some tax credit back for their contribution so everyone wins.”

The deal is the first the EPMU has negotiated that includes a full four percent employer contribution but is likely to be followed by more now that KiwiSaver is underway.