Topic: Kiwisaver

KiwiSaver member complained that supervisor followed an unfair process in assessing her application for withdrawal under significant financial hardship.

Leah believed she should be entitled to access her KiwiSaver early, on the grounds of serious illness. She had incurable cancer and would not live to retirement age.

Ishaan wanted to withdraw his KiwiSaver funds due to serious illness to get bariatric surgery. The KiwiSaver supervisor declined his application.

A supervisor declined KiwiSaver significant financial hardship withdrawals because the members had other sources of funds: savings and an investment property.

Tina’s KiwiSaver supervisor declined her application to withdraw funds to repay debt

Janet locks in her KiwiSaver losses following the sharp, pandemic-led, market downturn in early 2020.

Scheme supervisor declined a KiwiSaver significant financial hardship withdrawal for the cost of orthodontic treatment.

Anna and Richard wanted to withdraw their KiwiSaver accounts in full to repay debt. The supervisor of their KiwiSaver scheme allowed partial withdrawals so Anna and Richard could meet their living costs. However, the supervisor could not agree to the request for full withdrawals.

Atsushi wanted to withdraw his $40,000 KiwiSaver balance to pay for a new car, help meet his mortgage payments, and pay for his mother’s travel expenses. His KiwiSaver trustee only released $11,000, saying these weren’t minimum living costs. How much was Atsushi entitled to withdraw?

What happens if your significant financial hardship application gets lost in the process?