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KiwiSaver, Accessing yourSavings.

Your contributions are invested for you. Your scheme provider's investment statement will explain how they will invest your money and what returns you can expect. The Retirement Commission's Sorted website also includes a calculator that provides an estimate of what your savings may be worth when you become eligible to withdraw them.

You become eligible to withdraw your savings (including the government kick-start and member tax credits) as a lump sum when you qualify for NZ Super (currently 65) or after five years' membership, whichever is later. If you join between the ages of 60 and 65, you won't be able to access your savings until you have been a KiwiSaver member for five years. So if you join at the age of 62, you'll be able to access your savings at 67.

To access your savings, apply to your scheme provider.

KiwiSaver is designed to complement NZ Super, to give people a better standard of living in retirement. Being a KiwiSaver member will not affect your eligibility for NZ Super.

Any withdrawals from your KiwiSaver account are tax-free.

Accessing your savings earlier

You may be able to withdraw part or all of your savings earlier:
If you...	you may be able to withdraw...	but not ...
want to buy your first home (after 3 years' membership)	your contributions, and your vested employer contributions	the government kick-start, or member tax credit.
experience significant financial hardship	your contributions, and your vested employer contributions	the government kick-start, or member tax credit.
suffer serious illness	your contributions your vested employer contributions, and the member tax credit	the government kick-start.
emigrate permanently	your contributions your vested employer contributions, and the government kick-start	the member tax credit (which is paid back to the Government).

In most cases you apply to your scheme provider if you want to withdraw your savings early. Within the first three months of contributing you apply to us.

On your death, your savings will be paid to your estate.

Buying your first home

After contributing to KiwiSaver for three years you can apply to withdraw part or all of your savings (excluding the $1,000 government kick-start and member tax credit) to put towards buying your first home (not an investment property).

Significant financial hardship

If you're experiencing, or likely to experience, significant financial hardship you can apply to withdraw part or all of your savings (including any vested employer contributions but excluding the $1,000 kick-start and member tax credit).

Significant financial hardship includes significant financial difficulties that arise because you are:

not able to meet minimum living expenses
not able to meet mortgage repayments on your family home, resulting in your mortgage provider seeking to enforce the mortgage on your property
modifying your home to meet special needs arising from you or a dependent family member having a disability
paying for medical treatment if you or a dependent family member becomes ill, has an injury or requires palliative care
suffering from a serious illness
incurring funeral costs if a dependent family member dies.

For significant financial hardship withdrawal, the scheme trustees (or Inland Revenue if the request is made in the first three months of membership) will want to know that reasonable alternative sources of funding have been explored. You may be required to complete a statutory declaration about your assets and liabilities, and to provide other documents or information to support your application.

The amount that can be withdrawn may also be limited to a specified amount.

Serious illness

If you're experiencing serious illness you can apply to withdraw part or all of your savings (including any vested employer contributions and member tax credit, but currently excluding the $1,000 kick-start).

Serious illness means an injury, illness or disability that results in you being unable to engage in work for which you're suited due to experience, education or training, or that poses a serious and imminent risk of death.

Permanent emigration

One year after you permanently emigrate from New Zealand you can apply to withdraw part or all of your savings, including the $1,000 kick-start and any vested employer contributions. Your member tax credit can't be withdrawn following permanent emigration and is paid back to the Government.

Your scheme provider may require some evidence that it has been one year since you permanently emigrated from New Zealand, for example a passport or residence permit allowing you to live in another country.

Forms and guides

Check out what KiwiSaver forms and guides are available on the KiwiSaver site.

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