Helping all our people to be better off financially

by Melanie Smith - General Manager, Employee Experience & Corporate Services

Here at AMP, we believe employers have a vital role in contributing to their employees' wellbeing and encouraging them to save for retirement. That’s why all of our permanent employees receive a 12 per cent employer superannuation contribution.

We know that women are 18 per cent worse off financially in retirement, despite higher rates of participation in KiwiSaver and needing to stretch out their retirement savings for longer.

It’s a disparity fuelled by a range of factors, including that women more likely to take unpaid leave to look after members of their household.

Which is why in 2020, we extended our market-leading benefit of 12 per cent employer superannuation contribution, to include not only those on paid parental leave, but employees on unpaid parental leave as well, for up to 38 weeks.

We don’t think New Zealanders should be penalised for raising a family and believe this benefit will help to narrow the savings gender gap and improve retirement outcomes for more women.