Withdrawing your savings

You generally become eligible to withdraw all your savings as a lump sum when you qualify for NZ Super (currently at the age of 65).

If you joined KiwiSaver on or after 1 July 2019, you can withdraw your savings when you qualify for NZ Super (currently 65). If you joined KiwiSaver prior to 1 July 2019, you can withdraw your savings either when you turn 65, or have been a KiwiSaver member for 5 years, whichever is the later.

How to withdraw your savings

When you're eligible to withdraw your savings, apply to your KiwiSaver provider.

Any withdrawals from your KiwiSaver account are tax-free.

Continuing your contributions

If you're ... then you can continue to make contributions...
self-employed

directly to your scheme provider.

an employee by deductions from your pay or directly to your scheme provider.

If you want to stop your contributions

To stop making KiwiSaver deductions from your pay, you must complete a Non-deduction notice (KS51) and give it to your employer.

If you want to restart your contributions

Provided you're still a KiwiSaver member you can start contributing again to your KiwiSaver account at any time, even after you've given your employer a non-deduction notice. If you want to restart the contributions from your pay you'll need to complete a KiwiSaver deduction form (KS2) and give this to your employer.

Employer contributions and Government contribution

Once you're eligible to withdraw your savings your employer is no longer required to make compulsory employer contributions to your KiwiSaver scheme, unless this is specified in a contractual employment agreement, or similar arrangement, between you and your employer.

Also, you no longer qualify for the Government contribution.

Withdrawing to pay tax liability on foreign superannuation transfer

If you transferred your funds into a KiwiSaver scheme you may withdraw the associated tax and student loan obligations from your funds. KiwiSaver providers administer this withdrawal.

Find out more about foreign tax withdrawal