When Will I be able to Withdraw Money?
After the Budget 2007 announcements, new rules about when you can and can't withdraw the member tax credits you have accumulated came into place.
You will be able to withdraw all funds (including the $1,000 kickstart and member tax credits) from your KiwiSaver account when you reach the age of eligibility for New Zealand Superannuation, of after five years of membership, whichever is the later.
You will be able to withdraw all your own contributions, any vested employer contributions and your member tax credits in the event of serious illness.
You will be able to withdraw all your own contributions and any vested employer contributions (but not the member tax credit) if you:
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Permanently emigrate (in which case you can also withdraw the $1,000 kickstart contribution);
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Suffer significant financial hardship; or
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Wish to make a deposit on your first home.
In addition, the member tax credit will not be able to be withdrawn under mortgage diversion or for making a deposit on your first home (nor do they count towards entitlement to the member tax credit). The KiwiSaver Act sets out a number of conditions and qualifying criteria that you will need to meet to be entitled to withdraw in each case.