Your circumstances have changed

There are some circumstances where you may be able to withdraw your KiwiSaver savings before you retire: you’re moving overseas, are experiencing financial hardship, suffering from serious illness, or suffer from certain life-shortening congenital conditions. 

Moving overseas

Moving overseas?

You can leave your money in KiwiSaver for as long as you like. (You won’t be entitled to receive Government contributions for any period where you live outside New Zealand.) You may also be able to transfer your KiwiSaver funds.

Emigrated to Australia?

You can transfer the total value of your KiwiSaver account to an Australian complying superannuation scheme which agrees to accept the transfer (as long as your balance is below any maximum transfer amount required by Australian legislation).  

Download the Westpac Transfer to a Complying Australian Super Fund form.

Permanently emigrated to a country other than Australia?

You can withdraw the full value of your Westpac KiwiSaver Scheme account after one year. This excludes any Government contributions (which will be paid back to Inland Revenue) and any amount you’ve transferred from an Australian complying superannuation scheme.

Download the Westpac KiwiSaver Scheme Permanent Emigration Application form. 

Living outside New Zealand?

Please call us on +64 9 375 9978 to let us know. 

Experiencing hardship

Sometimes life throws a curve ball. If you’re experiencing, or likely to experience, significant financial hardship, you might be able to withdraw some of your savings from your KiwiSaver.

You may be eligible if you’re unable to meet:

    • Your minimum living expenses.
    • Your mortgage repayments on your house, resulting in your mortgage provider seeking to enforce the mortgage on the property.
    • The cost of modifying a house to accommodate the special needs arising from your disability or a dependant's disability.
    • The cost of medical treatment for you or a dependant for an illness or injury, or palliative care.
    • The cost of a funeral for a deceased dependant. 

When you apply, you’ll need to:

      • Provide documentation that supports your application and satisfies the Supervisor that you are, or are likely to be, in significant financial hardship. Examples of documentation include copies of overdue bills or demand notices.
      • Complete a statutory declaration and ensure this is signed and certified by a person authorised to take a statutory declaration.

You can only withdraw your contributions and your employer’s contributions, not the Government contributions (if any). Any withdrawal will be limited to the amount that, in the supervisor’s opinion, is required to alleviate your hardship.

For more information, call us on 0508 972 254.

If you’re suffering financial hardship, you can also apply for a break from contributions, even if you’ve been a KiwiSaver member for less than 12 months.

Serious illness or death

If you become seriously ill, injured or disabled, you may be able to make an early withdrawal.

'Serious illness' means an injury, illness, or disability that:

      • results in you being totally and permanently unable to perform work that would otherwise suit your experience, education or training, or:
      • poses a serious and imminent risk of death. 

You’ll need to provide evidence of your serious illness. If your application is approved by the Supervisor, you may be able to withdraw a lump sum, up to the total value of your KiwiSaver account, including the Government contributions.

Download the Westpac KiwiSaver Scheme Serious Illness Application Form.

In the event of your death, we will need to be sent a completed application and supporting documentation. If this is accepted, your KiwiSaver savings will be paid to the executors or administrators of your estate. Or, if certain conditions are met and your account does not exceed the current prescribed amount of $15,000, we may pay a claimant such as your surviving partner or children.

Download the Westpac KiwiSaver Scheme Deceased Estate Withdrawal Form.

Life-shortening congenital condition

If you are suffering from certain life-shortening congenital conditions, you may be able to make an early withdrawal.

A medical practitioner will need to confirm that your condition is a congenital condition that is expected to reduce your life expectancy below New Zealand Superannuation Age (currently 65).

If your application is approved by the Supervisor, you will be considered as having reached retirement age for the purposes of the KiwiSaver Act, and will be eligible to withdraw some or all of your KiwiSaver savings. However, from the date of that withdrawal, you will no longer be eligible for any Government contributions or compulsory employer contributions.

Download the Westpac KiwiSaver Scheme Life-Shortening Congenital Condition Withdrawal Application Form.