Tax relief will add another 1%, making a total contribution rate of 8%.
But that is less than the average contribution rate of private-sector DC schemes.
Firefighters paid 11% until 2006 when they agreed to retire at 60 rather than 55 and switch to a contribution rate of 8.5%.
"The vast majority of these new members will have been enrolled at the minimum statutory contribution rate of 2% of earnings.
With a total contribution rate of 7% on all pay, an average earner's pension would rise from 31% of pre-retirement pay to the OECD mean of 59%.
The simulations indicated that the contribution rate of exotic S. alterniflora to GPP has been greater than that of native species since 2003 2004.
After the deployment of this system, the contribution rate of users increases about 20% in the release day and is more stable than that before.
Even though the electrolyte concentration of the soil bulk solution reached 10−1 mol L−1, the contribution rate of soil internal forces to splash erosion was >50%.
The report is clearly inspired by the auto-enrolment policy which is trying to recruit more workers into pension schemes, with a total contribution rate of 8% of salary.
From April 2007, all new employees will be automatically enrolled into "KiwiSaver", a retirement-saving scheme run by the tax authority, at a default contribution rate of 4% of pay.
The contribution rate of soil internal forces on splash erosion was >65% at a low electrolyte concentration (<10−2 mol L−1) and only 3%25%% at an electrolyte concentration of 1 mol L−1.
