Insurance firm IAG New Zealand (NZ) has launched a new parental leave package to support new parents.
The package, which is gender-neutral, includes 14 weeks of paid leave at full pay for the primary caregiver, on top of the current New Zealand government paid leave allowance of 26 weeks. Meanwhile, secondary caregivers will be entitled to three weeks of leave at full pay, in addition to a further unpaid five weeks of leave.
The package also includes a 3% KiwiSaver contribution for up to the full 12 months of an employee’s parental leave entitlement, excluding the period where employees are taking primary carer leave, when usual KiwiSaver contributions will apply. Under IAG’s previous arrangement, employer contributions into KiwiSaver, which is the New Zealand government’s voluntary savings scheme, were paused when when an employee went on parental leave.
Amanda Whiting, chief executive of IAG New Zealand, said: “It’s important that our people feel supported as they begin their parenting journey. Becoming a parent, including through surrogacy or adoption, is exciting and wonderful, but can also be a time of financial stress. We hope that through this package, our people will be provided with the flexibility and support they need to manage this significant time in their lives.
“Having gender-neutral parental leave benefits are a small way we’re helping to create a more diverse and inclusive workplace. It enables the parents, not the organisation or government, to choose who the primary caregiver will be during the first 12 months of a baby being born.”