AIA NZ, Aotearoa’s leading life insurer, has enhanced its employee parental leave policy for primary caregivers.
Under the policy, primary caregivers will now receive 14-weeks of leave at full pay on top of any payments made under the government’s 26-week paid parental leave subsidy. In addition, AIA will also pay KiwiSaver contributions for any unpaid portion of parental leave.
Brynlea Hunter-Morpeth, AIA NZ’s Chief People and Culture Officer, knows that welcoming a child is an exciting and special time that comes with many unique challenges to navigate.
“We want to provide financial support to our AIA whānau during what is a period of significant adjustment and help relieve some of the pressure, so that parents can focus on their new family.”
"At AIA NZ, our purpose is to help Kiwis live Healthier, Longer, Better Lives. We believe in better and finding new ways every day to shape a healthier future for the people and communities we serve – and we're committed to supporting our employees in all aspects of their lives, including when they choose to start a family," Brynlea continues.
"This initiative is also a fundamental step in bridging AIA NZ’s gender pay gap which currently sits at 19.1%. We acknowledge that the gender pay gap is a problem and we are determined to do what we can to close the gap. Our policy is a step towards solving this issue."
NZIER research shows that only 8.9% of Kiwi organisations with more than 20 employees top up the salary of staff who are on parental leave. Even fewer continue to contribute to KiwiSaver accounts during this time.
AIA’s enhancements build on its existing parental leave policy which includes support to primary caregivers on their return to work through up to an additional five days’ sick leave for taking care of dependents and staggered return to work arrangements. Secondary carers are also eligible for 4 weeks paid parental leave.
“Having a great parental leave benefit for employees who are welcoming new family members is an important part of our overall employee value proposition. We genuinely care for the wellbeing of our employees, their whānau and our communities. And we're focused on helping each other to thrive in the work we do and lives we live," says Brynlea.
In addition to the parental leave policy, AIA offers a range of benefits and support to its employees, including life, permanent disability and income protection insurance, AIA Vitality memberships, recharge days every quarter, paid community leave so people can undertake work in their local communities, and sports leave for those competing in national sports or cultural events.
The new parental leave policy came into effect from 1 January 2023 and is available to all primary caregivers at AIA New Zealand regardless of tenure.