Call us

KiwiSaver withdrawal options

Generally, you will have to wait until you are eligible to receive NZ Superannuation to withdraw the money in your KiwiSaver account. In extreme situations, you may be able to access some of the money in your KiwiSaver account earlier.

Ordinary withdrawals

You can make an ordinary withdrawal from KiwiSaver when you reach the age of eligibility for NZ Super, which is currently 65. However, if you joined KiwiSaver after you turned 60 you need to stay in for at least five years before you become eligible to withdraw.

  • How much will you get? Your entire account balance which includes your contributions, any government contributions, any employer contributions, any transfers from other super schemes, plus or minus any earnings or losses on these contributions.
  • How can you withdraw it? You can take out the whole amount as a lump sum, or take regular withdrawals.
  • You can keep contributing after you’re eligible to withdraw, but you will no longer be eligible for the member tax credits.

Early withdrawals

You can apply for an early withdrawal for the following reasons:

  • Once you have been in KiwiSaver for three years, to help you buy your first home.
  • If you are experiencing significant financial hardship.
  • If you are suffering serious illness.
  • If you have moved overseas permanently to a country other than Australia. You can apply to withdraw 12 months after you have emigrated.

If you have a KiwiSaver account when you die, your account balance will be paid to your estate.

What is serious illness?
Serious illness is defined in the KiwiSaver Act 2006 as being an injury, illness or disability:

  • that results in you being totally and permanently unable to engage in work for which you are suited by reason of experience, education or training or any combination of those things; or
  • that poses a serious and imminent risk of death.

What is significant financial hardship?
Significant financial hardship includes significant financial difficulties that arise because of:

  • your inability to meet minimum living expenses; or
  • your inability to meet mortgage repayments on your principal family residence resulting in the mortgagee seeking to enforce the mortgage on the residence; or
  • the cost of modifying a residence to meet special needs arising from a disability of you or of your dependant; or the cost of medical treatment for an illness or injury of you or of your dependant; or the cost of palliative care for you or for your dependant; or the cost of a funeral for your dependant; or you suffering from a serious illness.

How to apply for an early withdrawal

If you are a member of the Kiwi Wealth KiwiSaver Scheme and you need to apply for an early withdrawal, please contact us for the application forms.

For serious illness and significant financial hardship withdrawals, the Trustee will review the application and decide whether to approve it. The Trustee may approve a partial withdrawal, rather than the maximum allowed, or may decline your application.

To approve a withdrawal application on the grounds of significant financial hardship, the Trustee must be reasonably satisfied that the member is suffering or is likely to suffer from significant financial hardship and that reasonable alternative sources of funding have been explored and have been exhausted.

Remember that subject to the KiwiSaver Act you may not be permitted to make a withdrawal until we are satisfied that we have verified your identity and residential address to the standards required under the AML/CFT Act. Withdrawal requests will normally be processed within fifteen business days (from the date of receipt of your valid withdrawal request).

Related information

KiwiSaver opt out

KiwiSaver first home withdrawal

KiwiSaver and retirement

Identity verification

Transfer Australian Super to KiwiSaver

Back to top