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KiwiSaver significant financial hardship withdrawal
If you’re experiencing significant financial hardship (for example, if you can’t meet essential living costs), you can apply for an early withdrawal of your KiwiSaver savings.
Who is eligible?
You may be eligible to withdraw some of your KiwiSaver savings early if you can provide evidence that you’re suffering significant financial hardship.
For example, if you’re unable to pay for:
- minimum living expenses such as power, water and food bills
- mortgage, rental or board payments
- modifications needed on your home to meet special needs, if you or a dependent family member is disabled
- necessary medical treatment for you or a dependent family member
- funeral costs if a dependent family member dies.
How much you can withdraw
The amount you can withdraw depends on your situation and is decided by The New Zealand Guardian Trust Company Limited (our independent Scheme Supervisor).
The purpose of the withdrawal is to help you cover your essential expenses in the short term - generally a three-month period. If you’re still experiencing significant financial hardship at the end of that period, you can reapply.
Before you apply
KiwiSaver is designed to help you save for your retirement, so before applying for a hardship withdrawal, you need to:
- Talk to your bank about how they may be able to assist, for example by restructuring loans or mortgages
- Talk to Work and Income New Zealand (WINZ) who may be able to offer financial support.
As part of your application, you’ll need to provide evidence that you’ve talked to both your bank and WINZ. They should be able to give you a letter or email to that effect.
You might also like to use free budgeting services in your area, such as the Citizen’s Advice Bureau.
Documentation you need to supply
You’ll need to be able to provide information about you and any household members who contribute financially to the day-to-day running of your home.
See page 7 of the application form for a checklist of the required documentation.
How to apply
Download and complete a KiwiSaver Significant Financial Hardship Withdrawal application form.
KiwiSaver Significant Financial Hardship Withdrawal application form (PDF 663KB)
Submit your application – you can post or email your completed application form, or take it in to any ANZ branch. Our postal and email addresses are on page 1 of the application form.
Make sure you provide all the required information to avoid delays in the processing of your application.
Help completing the form
If you need help completing the application form, call us on 0800 736 034 or email service@anzinvestments.co.nz
You can also get help to complete the household income and expenditure sections of the application form from the Citizen’s Advice Bureau.
Assessing your application
We’ll review your application to make sure it’s complete.
If anything is missing we’ll contact you to request this, which could cause delays in processing your application.
Once complete, your application is sent to The New Zealand Guardian Trust Company Limited (our independent Scheme Supervisor) who will make the final decision.
We’ll then advise the outcome of your application by text, email or letter.
If you give us all the information we need and your application is approved, we aim to pay your withdrawal and show it in your KiwiSaver account in ANZ Internet Banking and goMoney within 20 business days.
Applying for additional expenses
If you have additional information which may change your financial situation (e.g. bills or expenses that you didn’t provide previously), you can apply to have your application reassessed.
If your application is declined
If you can provide new information, or if your financial situation changes (e.g. job loss), we can reassess your application.
Contact us to discuss reassessment, call us on 0800 736 034 or email us at service@anzinvestments.co.nz