Financial hardship withdrawals

You can withdraw from your KiwiSaver account due to significant financial hardship. A decision on this withdrawal is made by the supervisor of your KiwiSaver scheme, and you’ll need to provide evidence.

Significant financial hardship is defined as:

  • An inability to meet minimum living expenses, such as food, power or transport costs. Minimum living expenses do not include credit card debt, travel, hire purchase payments, fines etc. 
  • An inability to meet rent, board or mortgage repayments on your main family home resulting in your mortgage provider seeking to enforce the mortgage on your home
  • The cost of modifying your home to meet special needs arising from your or a dependant’s disability
  • The cost of medical treatment for your or a dependant’s illness or injury
  • The cost of palliative (long-term relief) care for you or a dependant
  • The cost of a funeral for a dependant
  • When you’re suffering from a serious illness.

The supervisor must be satisfied that all reasonable alternative sources of funding have been exhausted.  They will require a statutory declaration about your assets and liabilities. 

Withdrawals made due to financial hardship aren’t eligible to receive any government contributions made to the account. 

You may also wish to find out more about taking a ‘savings suspension’.

To make an application for a significant financial hardship withdrawal complete the withdrawal form and return it to us with supporting evidence, or contact us and we can assist you.

The more information you provide with your application, the better it will be able to be assessed. Requests for additional information can increase the processing time.