Withdrawing your savings

KiwiSaver is designed as a long-term investment to help you save for your retirement. That's why generally, your money is locked away until you're 65. However you may also be able to withdraw funds:

• To help buy your first home
• If you're moving permanently to a different country
• If you're experiencing significant financial hardship
• If you have a serious illness
• If you have a life-shortening congenital condition.

You can usually start withdrawing from your KiwiSaver account when you turn 65.

Remember you don’t need to withdraw your savings as soon as you turn 65. You can keep them in your account, working for you, until you need them. The choice is yours.

Congratulations on reaching this great milestone!

New Zealanders are typically living longer so it’s important to make sure your savings will support you throughout your retirement. Before you make any big financial decisions, we recommend you speak to a financial adviser to help you get the best from your savings. If you’d like some help, ANZ’s Investment Advisers can provide free advice tailored to your individual situation.

It’s also important to keep your money safe. Unfortunately, we’re seeing a rise in scammers trying to get their hands on retirees’ hard-earned money. They can be very clever and persuasive, but remember if something sounds too good to be true, it usually is. The best way to protect your savings is to be aware and keep your money safe.

To make your first retirement withdrawal, simply download and complete a retirement withdrawal form, and return it to us with certified identification and proof of residential address – see the form for details of what’s required. (You’ll only need to complete the statutory declaration and provide certified identification the first time you make a withdrawal.)

Once we’ve received your application, we aim to pay your withdrawal within 15 business days. It may take longer if there are public holidays, or we need to ask you for additional information.

To make a subsequent retirement withdrawal, or to amend your regular withdrawal, simply download and complete a subsequent retirement withdrawal form.

If you’ve been a member of KiwiSaver or a complying superannuation scheme for at least three years, you may be able to withdraw some of your money to put towards buying your first home, or land to build your first home on.

Just complete our simple online form and we’ll be in touch. Or download, complete and return a copy of the KiwiSaver first home withdrawal application form.

If you’re moving overseas permanently, you may be able to take your KiwiSaver savings with you.

If you move to Australia permanently, you may be able to transfer your KiwiSaver savings to an Australian complying superannuation scheme.

If you move permanently to a country other than Australia, you can withdraw your funds after you’ve been overseas for at least one year. Please note that you can’t withdraw:

• any Australian sourced funds (e.g. if you’ve transferred money from an Australian super scheme to your KiwiSaver account), or
  
• any Government contributions you’ve received (these will be returned to the Government).

To apply, download and complete our permanent emigration withdrawal form. You’ll need to show evidence that you’ve permanently left New Zealand and are living overseas, and complete a statutory declaration – see the form for more details.

You can apply for an early withdrawal if you’re suffering significant financial hardship – for example, if you can’t meet essential living and/or medical costs.

For more information on the eligibility criteria and to apply, see our KiwiSaver significant financial hardship withdrawal guide.

You can also find more information on help that may be available if you’re experiencing financial hardship.

You can apply for an early withdrawal if you have a serious illness. Serious illness means an injury, illness or disability that has you:

• totally and permanently unable to work at a job that you’re suited to because of your education, training or experience, or
  
• at serious risk of dying very soon.

You’ll need a declaration from a registered medical practitioner and you’ll also need to make a statutory declaration. For more information and to apply, see our serious illness application form.

You may be able to make an early withdrawal if you were born with a condition that is expected to reduce life expectancy below 65.

You’ll need a medical certificate from a registered medical practitioner and you’ll also need to make a statutory declaration. For more information and to apply, see our life-shortening congenital conditions withdrawal guide and withdrawal form.

The supervisor will determine whether you’re eligible for a life-shortening congenital conditions withdrawal.

If you make a life-shortening congenital conditions withdrawal you won’t be eligible for any Government contributions and your employer can stop their contributions.

See the guide and product disclosure statement for the scheme you belong to.