New Zealand's opposition Labour Party promised that if it wins the November national election, it will expand the country's overall retirement savings. Barbara Edmonds, spokesman for finance and economic affairs of the New Zealand Labour Party, said in an email statement that from July 2028, companies will be required to make contributions to retirement savings accounts, and by 2032, the contribution rate will increase to 6% of employees' remuneration. The statement also mentioned that it is prohibited to incorporate so-called New Zealand pension savings plan contributions into employees' basic wages in total remuneration labor contracts. Edmonds said, “The National Party has made it harder for New Zealanders to save, but now they want to force employees to invest more. The Labor Party plan requires employers to pay the same level of fees as the National Party proposal, and at the same time gives employees greater flexibility in paying when people are tight on funds.”

New Zealand's opposition Labour Party promised that if it wins the November national election, it will expand the country's overall retirement savings. Barbara Edmonds, spokesman for finance and economic affairs of the New Zealand Labour Party, said in an email statement that from July 2028, companies will be required to make contributions to retirement savings accounts, and by 2032, the contribution rate will increase to 6% of employees' remuneration. The statement also mentioned that it is prohibited to incorporate so-called New Zealand pension savings plan contributions into employees' basic wages in total remuneration labor contracts. Edmonds said, “The National Party has made it harder for New Zealanders to save, but now they want to force employees to invest more. The Labor Party plan requires employers to pay the same level of fees as the National Party proposal, and at the same time gives employees greater flexibility in paying when people are tight on funds.”