What are the rules for KiwiSaver withdrawals?

The rules for withdrawing from your KiwiSaver account are set by the law governing KiwiSaver. Some general rules and regulations are detailed below.

The law governing KiwiSaver sets out when you are able to access the funds within your KiwiSaver account. Below are some general rules and regulations for making withdrawals:

  • You are entitled to withdraw from your KiwiSaver account when you reach the qualification age for New Zealand Superannuation (currently 65) or five years after joining KiwiSaver, whichever is the later if you joined before 1 July 2019.  If you joined on or after 1 July 2019 you will be eligible to withdraw when you turn 65.
  • If you die before closing your KiwiSaver account, your savings will be paid to your estate.
  • If your principal place of residence was outside of New Zealand while you were a member of KiwiSaver, there may be some Government Contributions that are required to be paid back to the Government.
  • Your KiwiSaver provider is required by law to verify your identity before you can make any withdrawals. Visit our identity verification page for details.
  • If you are eligible to withdraw and still working, your contributions will continue to be deducted from your salary. If you want to stop those salary deductions, you need to apply for a Savings Suspension.
  • Once you’ve closed your KiwiSaver account it cannot be reopened.

For instructions on how to make a retirement withdrawal, see the FAQ here.