There are a limited number of ways to withdraw your KiwiSaver before you reach retirement age (currently 65).
If you know which withdrawal option you’d like to apply for, you can download the appropriate form in the Sharesies app:
Got to Settings > Support > Send us a message
Select “Ask a question”
Choose “KiwiSaver”
Choose “Yes” to being a member
Select “Download a KiwiSaver withdrawal form”
Download the applicable withdrawal form.
First-home withdrawal
For first-home withdrawals, you'll need a first-home entitlement letter that shows an estimate of how much you're eligible to withdraw from your KiwiSaver account. You'll also need to complete a first home withdrawal form.
You can find both of these documents in the Sharesies app by going to KiwiSaver > View documents > First-home withdrawal application.
To be eligible to make a KiwiSaver withdrawal for a first home, you must:
have been a KiwiSaver member for at least 3 years
have never used your KiwiSaver to purchase a home before
be buying a home in New Zealand that’ll be your principal place of residence (i.e. you intend to live there)
First, complete the withdrawal form and have your lawyer send this to us at help@sharesies.co.nz to process. We need 10-15 working days' notice before the funds are needed to make sure the payment reaches your lawyer’s trust account on time.
You must leave a $1,000 KiwiSaver balance, and any Australian superannuation funds transferred into your KiwiSaver cannot be used to purchase your home.
IRD are able to deduct money received as Government contributions if you received these while you were living overseas so, if you’ve lived overseas, you may also need to pay back any Government contributions you received during this time.
Significant financial hardship
To be eligible to make a KiwiSaver withdrawal you will need to provide evidence that you are suffering significant financial hardship. You must have proof that either you:
cannot meet minimum living expenses
cannot pay the mortgage on the home you live in, and your mortgage provider is seeking to enforce mortgage repayments
need to modify your home to meet the special needs of yourself or those of a dependent family member
need to pay for medical treatment for yourself or a dependent family member
need to pay the funeral costs of a dependent family member
need palliative care for a family member or family member’s dependant.
Once you have sent the application and supporting documents to us, we will get your withdrawal application ready for review. All decisions regarding eligibility and amounts withdrawn are made by an external Supervisor. You are unable to withdraw Kickstart or Government contributions for this withdrawal type, these are restricted funds.
Serious illness
To be eligible to make a KiwiSaver withdrawal due to serious illness, you’ll need to provide evidence that either you:
are totally and permanently unable to work in a job suited to your experience and training
have an illness, injury, or disability that permanently affects your ability to work or poses a risk of death
Once you have sent the application and supporting documents to us, we’ll get your withdrawal application ready for review.
All decisions regarding eligibility and amounts withdrawn are made by an external supervisor.
Permanent emigration to Australia (Trans-Tasman)
If you move to Australia, you cannot withdraw your KiwiSaver balance, however, you can have your KiwiSaver transferred to a compliant APRA-approved Australian superannuation fund. There’s no minimum stand-down period.
You must be a member of an Australian superannuation fund before you request a withdrawal, as we’ll request proof of membership as part of the review process.
Permanent emigration outside Australia
If you’ve moved overseas permanently, you can withdraw your KiwiSaver balance after one year living abroad.
You’ll have to provide evidence of leaving New Zealand and proof of your intention to live overseas for the foreseeable future (e.g. house, tenancy or employment agreement).
You are not eligible to withdraw Government contributions, so if requesting this withdrawal, any Government contributions will be returned to the IRD.
Deceased estates
If you are the executor of an estate and need help with a KiwiSaver account, reach out to help@sharesies.so.nz. From there you’ll be sent the deceased member withdrawal form.
If the account portfolio value is over $40,000, you’ll need to provide us with probate (together with a copy of the will) or a Letter of Administration (if there was no will) for the estate.
Retirement withdrawal
To be eligible to withdraw your KiwiSaver balance in full (or a partial amount), you must be at least 65.
If you’re withdrawing your full KiwiSaver balance, your KiwiSaver account will be closed once your balance has been paid to you.
If withdrawing a partial amount, you’ll need to complete a ‘Subsequent Retirement Withdrawal’ form for any future withdrawals.