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Hardship and illness withdrawal

You may be able to withdraw some or all of your KiwiSaver money if you are suffering:

  • significant financial hardship
  • from a serious illness.

You must meet the conditions to apply for these withdrawals.

Significant financial hardship withdrawal

If you're in significant financial hardship, you may be able to take out some KiwiSaver money but your financial situation must meet the definition of 'financial hardship' in the KiwiSaver Act.

You may be able to withdraw an amount equal to:

  • your own contributions
  • your employer contributions
  • any investment returns.

This amount will not include any member tax credits (MTC), which are government contributions.

You can only withdraw money:

  • that's enough to ease your hardship
  • if you can show that you have looked into and used up all other reasonable options.

Applying for significant financial hardship withdrawal

You will need to send us or your financial adviser:

We work with good people, so we can support you better.

There are times when we all need some help - don’t be afraid to ask.

If you are struggling to make ends meet and want to talk to someone confidentially, MoneyTalks is there to help. Call MoneyTalks free on 0800 345 123 to find a budget-service in your area. Their budget advisers can help you by creating budget plans to manage your daily living costs and plan for the future. If you’ve made previous hardship withdrawals, you’ll need to attach a budget plan to your application. However, as Moneytalks is not part of Booster, if you have any questions about the application process itself, please ask us.

Moneytalks provide general budgeting advice and support. They provide confidential and unbiased budgeting services to help you get ahead. You can also contact them via [email protected] or by livechat on www.moneytalks.co.nz.

Serious illness withdrawal

If you've got a serious illness, you may be able to take out some or all of your KiwiSaver money but your health must meet the definition of 'serious illness' in the KiwSaver Act.

You may be able to withdraw an amount equal to:

  • your own contributions
  • your employer contributions
  • any investment returns
  • any member tax credits (MTC), which are government contributions.

Applying for serious illness withdrawal

You will need to send us or your financial adviser: