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KiwiSaver relief for quake-affected members

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KiwiSaver relief for quake-affected members.

Yesterday, the Government announced it would make it easier for any KiwiSaver members suffering financial hardship following the November 14 earthquakes, to withdraw their funds.

KiwiSaver scheme rules provide for an early withdrawal if the scheme’s supervisor is reasonably satisfied that a member is suffering from significant financial hardship.

Commerce and Consumer Affairs Minister, Paul Goldsmith, approached all KiwiSaver supervisors to emphasise it was a priority for KiwiSaver providers to make quake-affected members applications as quick and easy as possible.

Fisher Funds, Managing Director, Carmel Fisher said Fisher Funds is contacting all their KiwiSaver members in the Kaikoura area and letting them know that they can apply to access their KiwiSaver savings if they are suffering through either damages or lost income following the recent earthquakes.

She applauded the Government’s quick position on this and the relaxing of some of the requirements members will have to fulfil to apply.

“It seems this is a learning on the back of the Christchurch earthquakes, and that flexibility with KiwiSaver is important so people can have access to their savings in urgent times of need.” 

“We will work with our affected clients to make sure they can go through the process quickly.”

The Trustee Corporations Association of New Zealand Incorporated (TCA) issued new guidelines to make it easier for applications by lessening some of the testing that is usually mandatory when applying for hardship and have taken into account that witnesses and documentation is hard to come by in a civil emergency and therefore they have made additional provisions.

Any Kaikoura resident wanting to make a financial hardship application should contact Fisher Funds at enquiries@fisherfunds.co.nz or phone 0508 FISHER (0508 347 437).

 

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