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a guide to

KiwiSaver - hardship

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What is a Kiwisaver financial hardship withdrawal?

​KiwiSaver is designed for two things: buying a first home and growing funds for retirement.  

 

However, If you’re experiencing serious financial hardship or serious illness*, you may qualify to withdraw KiwiSaver funds early to cover your essential expenses for a short period of time.

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In this guide, find out about: 

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Hardship includes being unable to pay for:

  • Minimum living expenses such as power, water and food bills

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  • Mortgage, rent or board payments

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  • Modifications needed on your home to meet special needs, if you or a dependent family member is disabled

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  • Necessary medical treatment for you or a dependent family member

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  • Funeral costs for a dependent family member

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  • Palliative care for you or your dependent family member

Hardship criteria
exclusions
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Funds can't be used for

  • Paying off credit card debt

  • Hire purchase debt for non-essential expenses

  • Paying off the full balance owing on loans (only arrears)

  • Fines, debt collection agency bills

  • Holidays or unnecessary travel

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However, applications can include amounts that are outstanding and in arrears.

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Impact of withdrawing funds

When funds are withdrawn from KiwiSaver early, it affects the amount of money available for retirement. This could contribute to a reduced quality of life or financial hardship in retirement. 

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It’s important to consider all other available options first before making this significant decision. Withdrawing KiwiSaver due to financial hardship is best considered as last resort.

Impact
Alternative options
Applying for kiwisaver hardship
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How to apply for KiwiSaver hardship withdrawal

Step 1: Get the form

Ask your KiwiSaver provider for the hardship form.
You can download it from their website or phone them to ask for it.

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Step 2: Provide copies of your documents

You will need to show:

  • ID (licence/passport and address)

  • Bank statements

  • Proof of income 

  • Any overdue bills

  • Your regular bills and payments (rent, loans etc.)

  • Other documents that show your situation (for example: disconnection notices, medical bills, or quotes for essential costs)

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Step 3: Show you have tried other ways first

You will need to show that you have tried to get money in other ways, such as:

  • Using savings

  • Asking your bank or lender for help

  • Asking Work and Income for help

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Step 4: Talk to a Financial Mentor

Many KiwiSaver providers ask you to meet with a Financial Mentor before they will look at your application.

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Step 5: Get your ID and application verified

KiwiSaver providers ask for your ID, proof of address and statutory declaration (usually the last page of the form) to be signed and witnessed by an authorised person. Either a:

  • Justice of the Peace

  • Solicitor 

  • Notary Public (there may be a cost)

  • Deputy Registrar at a court 

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KiwiSaver hardship FAQ
Serious Illness
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