SpeechDAN ROSEWARNE (Labour): Madam Speaker it's my pleasure to take a call on the first reading of the Employment Relations (Protection for Kiwisaver Members) Amendment Bill. I also want to like other members in the House tonight congratulate the hard-working member for the Banks Peninsula electorate Dr Tracey McLellan for getting her member's bill drawn from the ballot. You know that's a quite an achievement because some members have had relatively you know shorter careers and they've had bills drawn on a regular basis. I've not yet have that privilege to date and interestingly the former Speaker the Rt Hon Trevor Mallard had a long career and never actually got a member's bill drawn from the ballot. So when one is drawn it's particularly special. It's a special moment.The member for Banks Peninsula has addressed an important issue with her member's bill because it seeks to restore protections afforded to KiwiSaver members by the Employment Relations Act 2000 before it was amended by the Employment Relations Amendment Act 2008. It aims to ensure that workers cannot be discriminated against because they are members of a KiwiSaver scheme or complying superannuation fund.As it stands employers are not legally obliged to offer workers enrolled in KiwiSaver the same terms of employment salary wages or conditions of work or those fringe benefits or even opportunities for training promotion or transfer. And as a worker if they're not enrolled in that scheme they could be at a disadvantage. Employers are also permitted to offset pay increases against workers' KiwiSaver contributions and these legislative loopholes have the potential to significantly disadvantage New Zealanders saving for their retirement. This amending bill will restore the protections provided by the principal Act before it was amended in 2008 and ensure that most workers cannot be discriminated against simply because they are members of a KiwiSaver scheme or a complying superannuation fund.This bill fits in with our wider plan for financial security of Kiwis. KiwiSaver was the key policy of the 2007 Labour-led Government that radically boosts the prosperity of Kiwis in their retirement and it's also supported by their employers and the Government. It also builds resilience so Kiwis don't have all their eggs in the one basket.I serve on the Finance and Expenditure Committee. We recently had the Reserve Bank Governor before the committee to discuss the Monetary Policy Statement. We were discussing the housing market and the governor touched on KiwiSaver adding to the resilience of the New Zealand economy. Since the establishment of KiwiSaver our population is becoming less reliant on equity in the home as our key investment with us moving to a broader more diversified investment portfolio through KiwiSaver investments. This has allowed people to diversify and it should be absolutely encouraged. The last thing we want is for people to be discouraged from starting KiwiSaver with their employer because there is a possible disadvantage there. This would heavily affect their financial position in their later years as has been mentioned by members on the side of the House. This House needs to do all it can to encourage KiwiSaver uptake and this bill does that.Just to provide more context to this bill there have been some real positive changes to KiwiSaver in Budget 2023 our Wellbeing Budget. On average women have lower KiwiSaver balances and retirement income than men with parenting representing one of the main reasons. The widest gap between men and women is among those in their 40s and 50s. Women in their 40s have about $10000 or 30 percent less in their account than men while women in their 50s are down by about $13000 or 32 percent. So this is a gap that we have taken measures to close. In Budget 2023 the Government is enhancing the KiwiSaver scheme for parents so when they do take parental leave then their KiwiSaver contributions are covered. This recognises the unpaid nature of childcare.This bill goes towards enhancing that financial security for people so I commend it to the House.