What happens when a KiwiSaver scheme retires before you do?
Delay in winding up a KiwiSaver investment caused a loss
Topic: KiwiSaver
KiwiSaver – Savings, but not to be withdrawn at a member’s discretion
Richard’s business is losing money and he is experiencing difficulty in meeting his financial commitments. Richard complains to FSCL when his KiwiSaver trustee declines his application to withdraw funds early on the basis of significant financial hardship.
No more hopping the ditch to get KiwiSaver rich
If you move permanently to Australia, can you transfer your KiwiSaver funds to an Australian superannuation scheme?
Permanent emigration allows access to KiwiSaver funds
KiwiSaver member’s application to withdraw funds declined because the trustee was not satisfied the member had permanently emigrated from New Zealand.
Lessons to be learned when dealing with significant financial hardship applications
Adam knew his employment contract would end in early December, with a new contract starting in late February. Adam was paying a creditor $500 a week under a legal agreement.
Significant financial hardship not significant enough
Manoj submitted an application to his KiwiSaver scheme to withdraw funds on the grounds of significant financial hardship.
Serious illness test difficult to satisfy
Conflicting medical evidence about whether KiwiSaver member’s disability was total and permanent.
