NZ Income Insurance Scheme summary
Every year, more than 100,000 New Zealanders are made redundant, laid off, or have to stop working because of a health condition or disability.
The Government, Business New Zealand and the New Zealand Council of Trade Unions are proposing a new way of better protecting workers and the economy: a New Zealand Income Insurance scheme (NZIIS).
Please take the time to read this summary of the proposals for the New Zealand Income Insurance Scheme.
You can also read the full discussion document, and provide your feedback through a short survey or full submission in our Have your say section.
In this section
Introduction from Hon Grant Robertson (Minister of Finance), Richard Wagstaff (President) and Kirk Hope (Chief Executive).
A summary of the proposals in the New Zealand income insurance scheme.
Our proposed scheme aims to cover as many workers as possible to reflect the different ways people work, ensure more people can benefit and to keep costs low.
Our scheme is designed to provide enough of a financial cushion that workers have the time and financial security to find a good new job, rehabilitate, or retrain for a different career.
Our scheme aims to help people find good new jobs that match their skills and aspirations. It also aims to help people use the time to learn new skills or rehabilitate from a health condition or disability.
Publicly provided income insurance is a new concept for New Zealand, but we do have a similar system for accidents: ACC. We propose that the New Zealand Income Insurance Scheme is funded and managed in a similar way.