Withdrawal in cases of significant financial hardship


According to the KiwiSaver Act 2006, Schedule 1, a member can withdraw their funds from KiwiSaver if the Supervisor is reasonably satisfied that a member is suffering or is likely to suffer from significant financial hardship.

Meaning of significant financial hardship

For the purposes of these rules, significant financial hardship includes significant financial difficulties that arise because of:

  1. A member's inability to meet minimum living expenses; or
  2. A member's inability to meet mortgage repayments on his or her principal family residence resulting in the mortgagee seeking to enforce them mortgage on the residence; or
  3. The cost of modifying a residence to meet special needs arising from a disability of a member or member's dependent; or
  4. The cost of medical treatment for an illness or injury of a member or a member's dependent; or
  5. The cost of palliative care for a member or a member's dependent; or
  6. The cost of a funeral for a member's dependent or
  7. The member suffering from a serious illness.

The amount of that significant financial hardship withdrawal may, subject to the Supervisor’s approval, be up to the value of the member's accumulation less the amount of the crown contribution on the date of withdrawal.

The Supervisor:

  1. Must be reasonably satisfied that reasonable alternative sources of funding have been explored and have been exhausted: and
  2. May direct that the amount withdrawn be limited to a specified amount that, in the Supervisor’s opinion, is required to alleviate the particular hardship.

To request a withdrawal form or to discuss a withdrawal of your KiwiSaver funds please call our Client Services team on
0800 772 837 or email

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