KiwiSaver Significant Financial Hardship

We understand this is a hard time for you, and we want to help you through this process.

Key Information

You may be able to make an early withdrawal from your KiwiSaver account if you are suffering or likely to suffer from significant financial hardship.

The decision on your eligibility for a withdrawal and the amount you will receive will be determined by the Scheme’s Supervisor, Trustees Executors Limited.

They take into account your individual circumstances and the requirements of the KiwiSaver Act.

The amount you can withdraw may be limited to the amount the Supervisor believes is required to meet your hardship requirements. Generally this will be up to 13 weeks’ shortfall of your living expenses.

You may be eligible if you are:

Unable to pay for minimum living expenses such as power, water, and food bills
Unable to pay mortgage/rental/board payments
Unable to pay to modify your home to meet special needs if you or a dependent family member is disabled
Unable to pay for medical treatment for you or a dependent family member because of illness, injury, or palliative care
Needing to cover funeral costs as a dependent family member has died.

Before You Apply

As any early money withdrawal from your KiwiSaver account is subject to the KiwiSaver Scheme Rules in the KiwiSaver Act, we work hard to facilitate and support our clients through this process, but do not set the process or determine your outcome.

In order to get your significant financial hardship application underway, you will need to demonstrate that you have contacted Work and Income, your bank and other financial institutions you deal with for assistance, and be able to show you have been declined any assistance from them.

When You Apply

To support your application, you’ll be required to provide a completed statutory declaration in respect of your assets and liabilities, and supporting documents to evidence the following:

Bank account statements for the last 3 months for all accounts you hold.
Proof of income (e.g. an electronic payslip).
Current statements for mortgages, loans, and other forms of debt, and their repayment schedules, especially if there are arrears owing.
Any other relevant evidence showing you’re not able to meet your minimum living expenses or have costs related to one of the situations above that you’re not able to pay.

Please note that non-personal (i.e business or family trust) related expenses are not considered to be personal expenses for the purposes of a financial hardship withdrawal application.

Next Steps For You From Here

Milford is keen to help our KiwiSaver members who find themselves in this difficult position and, as a result, we have partnered with a specialist hardship assistance provider, Debtfix.

Debtfix is a not for profit organisation who are experts in this space and have a proven track record in helping members get back to financial health. They will work with you, at no cost, to understand your unique circumstances and determine what solutions can best be explored to assist you.

If accessing your KiwiSaver Funds is the right next step for you, Debtfix will walk you through the hardship application process and provide guidance on how to obtain the required documentation to support your application. They will support you all the way through that process.

Get started here

Complete form online

The best way to start the process is to complete the initial Debtfix form online, then hit submit and from there Debtfix will contact you.

Alternatively if you prefer, you can: