What is this?

At TSB we care about doing the right thing so we've proactively undertaken an internal audit to check our compliance with the Holidays Act 2003. The Act is complicated and more open to interpretation than some others, and as a result, many organisations are discovering they have miscalculated leave payments, including us.

If you haven’t received a letter or text from us (sent to your last known contact details during employment) and think you may be due a repayment, please email holidaysact@tsb.co.nz and we’ll check if you’re entitled to a repayment.

Please note the remediation process only applies to people employed by TSB after 17 August 2012.

How does it work?

  1.  Contact us - Email holidaysact@tsb.co.nz with your full name and contact details and let us know you are wanting to confirm whether you are entitled to Holidays Act remediation.
  2. Submit your details - If you are owed a repayment, we will ask you for further details to help us calculate any remediation payment that may be due and documentation to verify your identity.
  3. Confirm -  Once any calculations are complete and your details have been verified, we will confirm whether you are entitled to a repayment and give you a timeframe for when we will pay you.


Frequently Asked Questions


  • What is the NZ Holidays Act?

    The Holidays Act 2003 (“Holidays Act”) sets out the minimum entitlements to holidays and leave, and payment for leave that employers are obliged to provide to their employees in New Zealand. All New Zealand employers have to comply with the Holidays Act. The Holidays Act sets out how permanent and casual employees become entitled to annual holidays and BAPSD leave (bereavement leave, alternative leave, public holidays sick leave, and domestic leave), as they meet certain conditions. It also sets out the calculations used to pay these different leave types, which change depending on a number of factors.

    You can find more information about the Holidays Act here.

    In 2018 the government announced a review of the Holidays Act to bring it up to date with modern workforce practices. A taskforce has been set up to review the Holidays Act. You can find more information about the taskforce here.

  • What's the process to see if I’m owed money?

    Please email HolidaysAct@tsb.co.nz with your full name and contact details. We will review your information and may respond to ask for further details to help us identify whether you are owed a repayment. If you are owed a repayment, we’ll ask for some documentation to verify your identity and payment information. Once we’ve verified your identity and payment information, we’ll let you know the repayment amount and payment date as soon as we can.


  • How will I know if I'm impacted?

    If you worked for TSB after 17 August 2012 you may be eligible for a repayment. Please email HolidaysAct@tsb.co.nz with your contact details, we’ll then check if you’re eligible and let you know the outcome.

  • What if I know someone who used to work with the company?

    If you know a former employee that worked for TSB after 17 August 2012, please ask them to email holidaysact@tsb.co.nz with their contact details so we can check to see if they’re eligible for repayment.


  • Why are you conducting this review?

    We proactively initiated a review to check our compliance with the Holidays Act and found we were not compliant in some areas and exceeded the Holidays Act in other areas. To meet our obligations to both current and former employees we’ve established a programme to remediate leave payments and fix our current systems and processes to achieve compliance.

  • Why were my payments incorrect in the first place?

    The Holidays Act is really complex and there have been some issues with interpreting it across New Zealand. This means many organisations, including us, the NZ Police and even the Ministry of Business, Innovation and Employment (MBIE), which regulates the Holidays Act, have miscalculated holiday pay.

  • Why is the remediation limited to six years?

    The Labour Inspectorate requires us to remediate back six years from the date we identified that there was non-compliance. This was in August 2018, which means we go back to 17 August 2012.

  • You've already got my details, why do I need to complete this again?

    For a lot of people, information such as contact details, bank account, tax codes and KiwiSaver contribution rates etc. may have changed. This payment is classified as earnings and we’re required to have your current details to make the payment accurately.


  • How much will I get?

    The calculations are based on each employee’s individual earnings history and leave pattern and as such every former employee will be different. Once you have supplied the required information through the portal, we’ll validate your information and if you’re eligible for a repayment we’ll advise you of the amount and when it will be paid.

  • How will I know the amounts are correct?

    We will review leave records, payments, and earning data for all former employees who worked for TSB after 17 August 2012 and recalculate the payments a number of times to ensure accuracy. We’ve chosen to ignore any instances where we’ve overpaid employees but will be remediating in all cases where we have underpaid.

  • How will you protect the privacy of my information and how long will you keep it?

    We will only collect and use your personal information for the purposes of remediating any payment under the TSB Holidays Act remediation and will retain this information for seven years as required by law.


  • If I’m owed a repayment, when will I be paid out?

    It will take some time for us to collect all of the information we require to validate remediation for former employees where necessary. If you are owed a repayment, once your details have been validated we will contact you to advise you of this and get your account information. Once you’ve supplied that, we’ll advise when we will make the payment. Thanks in advance for your patience and cooperation as we work through this process.

Kiwisaver, Interest and Tax

  • Will my KiwiSaver employee and employer contributions apply?

    Yes, if you’re a member of a KiwiSaver scheme, we will ask you to complete the KS2 form. We’ll match your contribution up to 3%.

  • If I'm owed anything, will I receive interest?

    No. In our proactive audit of TSB’s compliance with the Holidays Act we found instances of us underpaying employees, but also many instances where we overpaid staff. We believe any overpayments would easily cover the cost of any interest owed to current or former employees so we are not seeking reimbursement for any overpayments and will not be paying interest on amounts owed.

  • If I'm owed anything, how will this be taxed?

    Any amount owing will be paid as a lump sum payment and taxed at the rate required by Inland Revenue. Other deductions like KiwiSaver, Student Loan etc, will be made as required by law. As part of the process you will be asked to complete a Tax Code Declaration form (IR330).


  • What will happen if the review has found you’ve overpaid my leave?

    If we find that we have overpaid your leave we will not be asking you to repay it or offset this against anything we do owe you.

  • Can I donate my payment to charity?

    No, legislation does not allow us to donate your payment directly to charity. You can choose to make a donation once you have received the payment.

  • What documentation do I need to provide and why?

    We are remediating payments for employees that have worked for TSB over a six-year period, after leaving TSB some employees details or situations may have changed. To ensure we pay the right person and meet legislative requirements we require:
    Photo ID: Current passport or NZ driver licence
    IR330: Tax declaration form
    KS2: KiwiSaver contribution form