KiwiSaver is designed for your retirement, but if you’re facing significant financial hardship, you may be able to withdraw some of your savings early to help alleviate that hardship.

Please note - withdrawing early will reduce your long-term retirement savings.

When can I apply?

Under the KiwiSaver Act 2006, you can apply for a hardship withdrawal if you’re unable to meet essential living costs or need funds for specific urgent reasons.

You may qualify if you’re:

• Unable to meet your minimum living expenses (food, utilities, transport etc.)

• Unable to pay your mortgage on your main home, rent, or board

• Needing to modify your home for disability needs (for yourself or a dependant)

• Paying for essential medical or dental treatment 

• Covering funeral costs for a dependant

• Temporarily unable to work due to illness

A dependant includes your spouse or partner, and your child (including adopted or stepchildren).

How much can you apply for?

If your application is approved, you can only withdraw enough to relieve your hardship - not your full KiwiSaver balance.

You cannot withdraw:

• Government contributions (they must remain in your account)

• More than the Supervisor determines is necessary

The amount released will depend on the evidence you provide and what the Supervisor considers reasonable to cover your immediate financial needs.

What counts as minimum living expenses?

Included:

• Basic food and groceries

• Power, water, and phone bills

• Rent, mortgage, or board

• Basic transport (fuel, bus fares)

• Medical or care costs for yourself or dependants

Not included:

• Credit card or hire purchase payments

• Fines, WINZ, IRD or Court debt

• Holidays or travel

• Subscriptions, memberships, or non-essential costs

Before you apply

Hardship withdrawals are a last resort. You must show that all other funding options have been explored, such as:

• Government support (e.g. WINZ)

• Assistance from your bank or lender

Each KiwiSaver provider has an independent Supervisor who makes the final decision.

For Generate, this is Public Trust. They will assess:

• Whether you are suffering (or likely to suffer) significant financial hardship

• Whether you’ve exhausted other reasonable funding options

• How much can be released to relieve your hardship

How to apply

1. Get in touch with our friendly team today. We’ll guide you through the process and provide you all the necessary forms to get started.

How long does it take?

• We’ll check your application and contact you if more information is needed (15 business days).

• Once complete, it’s sent to Public Trust for review (5 business days for a decision to come back).

• You’ll be advised of the decision by email.

• If approved, payment goes directly to your personal bank account (up to 5 business days to appear in your account).

If you don’t qualify

You may not qualify if you can still meet your basic expenses or haven’t yet explored other support options.

Before applying, consider contacting:

• Work and Income NZ (WINZ): workandincome.govt.nz

• Your bank or lender: To discuss repayment or hardship options

• Sorted NZ or Citizens Advice Bureau: sorted.org.nz for budgeting support

If you’re struggling with ongoing deductions, you can also apply for a KiwiSaver savings suspension through your MyIR account or by contacting Inland Revenue (ird.govt.nz).

Need help?

If you’re unsure if your situation fits into the above, get in touch with our team today, we’ll be happy to help.