It was not our money

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

Can I withdraw from KiwiSaver to repay debt?

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.

KiwiSaver savings are your money – but not yours to spend yet

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?