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  • Thames Budget Service

How do I access my Kiwisaver in financial hardship?

Are you considering the idea of withdrawing funds early from your KiwiSaver? KiwiSaver was designed to "lock money away" for your retirement*. Withdrawing funds from your KiwiSaver is a "last ditch" option to be used only when all other options have been exhausted. Withdrawing funds earlier than retirement will seriously affect the amount of money you are able to save. Applications for fund withdrawals are not always accepted. So what are my other options? Our financial mentors will work with you to see if there are other ways that can be used first before you apply to have your funds withdrawn. Contact us to see how we can help you. KiwiSaver Savings Suspension Another option which may help, is to apply to take a savings break and stop your future Kiwisaver deductions for a period of time. What is meant by "Significant Financial Hardship"? The IRD website says: "To withdraw funds you will need to provide evidence you are suffering significant financial hardship. Significant financial hardship includes when you:

  • cannot meet minimum living expenses

  • cannot pay the mortgage on the home you live in, and your mortgage provider is seeking to enforce the mortgage

  • need to modify your home to meet your special needs or those of a dependent family member

  • need to pay for medical treatment for yourself or a dependent family member

  • have a serious illness

  • need to pay funeral costs of a dependent family member. If your application is accepted you can only withdraw your and your employer's contributions. If you do not pay KiwiSaver contributions through an employer – go straight to your provider.

*KiwiSaver can also be withdrawn early to assist with the purchase of a first home (conditions apply). See



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