Topic: KiwiSaver

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?

Julian’s partner had stolen $50,000 from his KiwiSaver, by forging a series of small withdrawal applications. Should Julian’s KiwiSaver provider have caught the fraud?

Jorge receives $18,000 less than he expected when withdrawing his KiwiSaver balance, and complains to FSCL

Will a KiwiSaver trustee release money to pay a debt owed to your mum?

What happens when your application to withdraw funds from your KiwiSaver on the grounds of significant financial hardship does not meet the usual criteria?

Deborah’s application to withdraw KiwiSaver funds on the grounds of significant financial hardship is declined because of funds in her partner’s bank account.

Jodie became unwell and could not work. She applied to withdraw money from her KiwiSaver but was told she did not have a serious illness that stopped her from working permanently. Is Jodie entitled to withdraw from her KiwiSaver to pay off her debt?