I signed up to Kiwisaver about 3 months ago- I hadn't previously been in the scheme, but decided now was a good time. So the three month stand down period has passed now, and whatever IRD had (money wise) was transferred to my preferred scheme - sweet.
I was checking in on my pay slip to see how much had been contributed so far, and my payslip indicated that my employer had matched me at 3% - so all fine there, too.
Then I went to check in at IRD (on their website) to see what the kiwisaver tab was showing. This is where it gets a little tricky;
Both kiwisaver (IRD) and my scheme provider are showing the same information as each other, in that, my contributions are significantly higher than my employer contributions.
I rang IRD and they had said that there is some unprocessed employer contributions from September.
The lovely lady on the phone also mentioned that employer contributions are taxed at the appropriate income tax rate when they are sent over (calculated at Yearly income + contributions to determine tax bracket).
So accounting for the unprocessed funds, and for tax, my numbers still don't quite stack up- not quite as significant difference as before, however, still not reconciling to me.
Maybe I've missed something somewhere (more than likely), but is this expected? Hs anyone else run into the same issue?