Buying guide
Kiwisaver withdrawal rules: A complete guide
Need those savings?
AI summary
While KiwiSaver is designed for retirement at age 65, you may be able to withdraw funds early for specific purposes.
Key reasons for early access include:
- A first home purchase after three years of membership.
- A second home in limited cases, requiring a Kāinga Ora application.
- Moving overseas permanently.
- Significant financial hardship or serious illness.
Early withdrawal can significantly reduce your retirement savings, so seeking professional financial advice before making a decision is highly recommended.
When can I withdraw my Kiwisaver?
Kiwisaver first home withdrawal rules
Withdrawing Kiwisaver when you’ve reached retirement age
Full withdrawal
Partial withdrawal
Regular withdrawals
It's usually best to leave your Kiwisaver where it is for as long as possible (but that's not always possible).
Withdrawing your Kiwisaver to buy your second or subsequent home
Withdrawing your Kiwisaver if you’re moving to a new country
If you’re moving to Australia
If you’re moving to any other country that’s not Australia
If you’ve retired under Australian law
Going overseas for good is one reason you may be able to withdraw your Kiwisaver balance.
Extenuating circumstances Kiwisaver withdrawal
Understand the impact of Kiwisaver withdrawal
For example, let’s say you’ve been putting $250 aside per month and have a $50,000 balance in your Kiwisaver.
Author
Discover More
All Blacks vs Ireland: What NZ’s average asking price buys in the Emerald Isle
As the All Blacks face Ireland, we look at how NZ's property market stacks up against the Irish.
'I wouldn't say we agreed instantly': The renovation that brought an old school back to life
A derelict Southland school becomes a vibrant home after a three-year, $250,000 renovation.
Search
Other articles you might like
