Withdrawing your KiwiSaver
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Retirement withdrawal

You can withdraw the total of your KiwiSaver account balance when you reach the qualification age for New Zealand superannuation, currently 65.*

Transferred funds from an Australian super

If you've transferred funds from an Australian complying superannuation scheme to a KiwiSaver scheme, you can withdraw these transferred funds when you meet both the following conditions. You must:

  • reach the age of 60
  • satisfy the definition of 'retirement' in Australian legislation.

Withdrawing your KiwiSaver money

You can choose to withdraw:

  • your entire savings as a lump sum
  • part of your KiwiSaver savings.

But you don't have to withdraw your KiwiSaver money if you don't want to. If you don’t need your savings right away, you can leave some or all of them in your KiwiSaver account so they can continue to grow.

What’s best for you will depend on your overall financial situation and your lifestyle – we recommend you talk to your financial adviser before making any decision.

To apply for retirement withdrawal, return the completed Booster KiwiSaver Scheme Retirement Withdrawal Form either to us or your financial adviser.

*Five-year lock-in period

Previously, new members who joined KiwiSaver after the age of 60 were subject to a five-year lock-in period before they could withdraw their savings when they turn 65.

From 1 July 2019, this five-year lock-in period will no longer apply.

If you joined KiwiSaver prior to 1 July 2019 and are currently subject to the five-year lock-in period, you'll be able to opt out of this from 1 April 2020. Opting out may affect your eligibility to receive both employer and government contributions.

Find out more

Manage your money

Keep track of your KiwiSaver account

Making contributions

Transferring into KiwiSaver

KiwiSaver withdrawals

Read about our free accidental death cover


If you have any queries or want to know more:

If you don't have a financial adviser, we can put you in touch with someone in your area.