General information only. Confirm with the agency for your situation. Spotted something out of date? Email help@unemployed.nz.
KiwiSaver break, contribution and withdrawal
Check whether you can pause contributions, what you lose in the government contribution, and what a hardship withdrawal could cost your future savings.
Employer money does not count towards the government contribution.
Pause contributions: a savings break
Enter your months of membership to see your options.
What a break costs: the government contribution
Government pays25c per $1, up to $260.72
You need to pay in$1,042.86
Still to pay in before 30 June$1,042.86
Contributing by hand just to catch the $260.72 only makes sense if you can spare it. It is not worth missing rent for.
Significant financial hardship withdrawal
- Qualifying reasons include not being able to meet minimum living expenses, mortgage enforcement, medical treatment, serious illness, home modifications for special needs and funeral or palliative costs.
- You can take only your and your employer's money, not the government contribution. The amount is set by an independent scheme supervisor and is usually just the shortfall.
- Credit card debt, fines, holidays and non-essential hire purchase are not covered. Try a savings break and your lender's hardship team first.
Default contribution rate is 3.5% for both you and your employer. Talk to your provider or the hardship helper before deciding. Free help: MoneyTalks 0800 345 123.
Sources: Savings break, Hardship withdrawal, Government contribution