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Would I qualify for a Significant Financial Hardship withdrawal?

January 30, 2019


Contributor

Written by Contributor


An early KiwiSaver withdrawal is available to those with significant difficulties with meeting their day to day living costs.

The tool below will help you determine your eligibility to withdraw funds from your KiwiSaver early (KiwiSaver Significant Financial Hardship Withdrawal). If you do qualify, you'll need to provide evidence for all the claims you make in the application.

Please contact us by emailing us at questions@kiwiwealth.co.nz  

We do recommend only seeking an early withdrawal if you need the cash now. Kiwi Wealth funds are well-diversified to manage through, and recover from, a market downturn in the long run. A withdrawal now does lock in the losses.

 

Any amount approved for your withdrawal is subject to market performance until it is ready to pay, which will happen in the next weekly rebalancing cycle. This will mean the amount you're paid could differ from your current balance.


If you are struggling financially, three good places to seek advice are:

1. the Citizens Advice Bureau (CAB)
2. New Zealand Federation of Family Budgeting Services on 0508 BUDGET (0508 283 438)
3. MoneyTalks: phone 0800 345 123; text 4029; email help@moneytalks.co.nz 

 

Tags: KiwiSaver, KiwiSaver basics

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