When you reach the KiwiSaver qualifying age, you can ask us to pay out all or part of your Kernel KiwiSaver balance. For most people, that’s age 65.
Good to know: If you’ve been with Kernel for less than 6 months, we’ll need to verify your identity again before we can process your withdrawal. Please email our team at support@kernelwealth.co.nz and we’ll guide you through it.
How to make your first KiwiSaver retirement withdrawal
Follow these steps if this is your first withdrawal from Kernel KiwiSaver.
Step 1: Go to the Resources & Documents page on our website.
Step 2: Scroll to the ‘KiwiSaver Withdrawal’ section and open ‘Withdrawal Form – First Retirement Withdrawal at Kernel’.
Step 3: Fill out the form. It needs to be witnessed by a solicitor, a Justice of the Peace, or another person authorised to take statutory declarations, such as a notary public or an officer of the court.
Step 4: Email the completed form to support@kernelwealth.co.nz with:
Proof of your bank account. This can be a bank statement or deposit slip showing the account name and New Zealand account number you’d like us to pay into. The account must be in your own name.
Certified ID. This should be a certified photocopy of your current NZ driver licence or NZ passport. The person who witnessed your form must certify it, and they need to include this statement: “I certify this to be a true copy of the original, which I have sighted, and the photo represents a true likeness of [your full name].”
Step 5: We’ll process your request and call you to confirm a few security questions.
How to make ongoing KiwiSaver retirement withdrawals
Follow these steps for ongoing KiwiSaver retirement withdrawals if you have already completed your first withdrawal:
Step 1: Go to the Resources & Documents page on our website.
Step 2: Scroll to the ‘KiwiSaver Withdrawal’ section and open ‘Withdrawal Form - During Retirement - After First Withdrawal’.
Step 3: Fill out the form.
Step 4: Email it to support@kernelwealth.co.nz. If you’re paying into a different bank account from last time, include a bank statement or deposit slip showing the account name and number. The account must be in your own name. If it’s the same account, you don’t need to send this again.
Step 5: We’ll process your request and let you know once it’s done.
Can I do a partial KiwiSaver retirement withdrawal?
Yes, you can do a partial retirement withdrawal. Just enter the amount you’d like on the withdrawal form. You can do this for your first withdrawal or any later one.
Can I do a full KiwiSaver retirement withdrawal?
Yes, you can do a full withdrawal of your KiwiSaver during retirement. Just tick the full balance box on the withdrawal form.
Can I move my KiwiSaver money into my invest portfolio?
Yes, but it takes a couple of steps. First, withdraw the amount you want using the withdrawal form. Then invest those funds through your Kernel Wallet.
Can I set up regular or automatic withdrawals?
Not at the moment. Each withdrawal needs its own withdrawal form, so you’ll need to send one in every time you’d like to take money out.
How long does the withdrawal take?
Most KiwiSaver retirement withdrawals take about 5 business days once we have everything we need from you.