The nature of a KiwiSaver scheme means your savings are locked in until you are eligible for NZ Superannuation (currently 65).
You may be able to make an early withdrawal of part (or all) of your savings under the KiwiSaver rules if you satisfy certain criteria. There are rules around when each of these withdrawals can be made and how much of your account can be withdrawn.
The table below summarises the permitted withdrawals from the Scheme:
| Permitted withdrawals (as referred to in the KiwiSaver Act 2006) | Your contributions and returns | Your employer’s contributions and returns | Government contribution | Government kick-start payment* | Australian transferred savings |
| Retirement (currently 65)** | ✓ | ✓ | ✓ | ✓ | ✓ |
| Buying your first home*** | ✓ | ✓ | ✓ | ||
| Life-shortening congenital conditions | ✓ | ✓ | ✓ | ✓ | ✓ |
| Serious illness | ✓ | ✓ | ✓ | ✓ | ✓ |
| Significant financial hardship**** | ✓ | ✓ | ✓ | ||
| Permanent emigration – to countries other than Australia | ✓ | ✓ | ✓ | ||
| Permanent emigration – to Australia***** | ✓ | ✓ | ✓ | ✓ | ✓ |
| Death of a member | ✓ | ✓ | ✓ | ✓ | ✓ |
| Transfer to another KiwiSaver scheme | ✓ | ✓ | ✓ | ✓ | ✓ |
| To pay tax which arises from a foreign superannuation scheme withdrawal | ✓ | ✓ | ✓ |
*Only applicable to members who joined KiwiSaver before 2pm on 21 May 2015 and received a kick-start incentive payment into their KiwiSaver account.
** Provided you have been a member of a KiwiSaver scheme or a complying superannuation fund for at least five years. However, members who join KiwiSaver from 1 July 2019 at the age of 60 or over and therefore have not been a member for five years when they qualify for NZ super will be able to access their funds at 65. From 1 April 2020 members who were over age 60 and joined prior to 1 July 2019 will be able to opt-out of the 5 year membership requirement by notifying us and access their funds when they turn 65.
*** You must retain a minimum balance of $1,000 in your KiwiSaver account.
**** The amount of the withdrawal is limited to the amount that, in the supervisor’s opinion, is needed to alleviate your hardship.
***** These amounts must be transferred to an Australian complying superannuation scheme. Restrictions also apply to withdrawals if you have transferred Australian superannuation savings into the Scheme.