In financially stressful times, our minds quickly run to those piles of money in KiwiSaver. Whether it’s rising prices and the economy in a tight spot or a personal situation costing you more, it’s natural to think about tapping into your KiwiSaver to get through.
Here are the pros and cons of hardship withdrawals as you weigh your options.
Can you withdraw money from KiwiSaver early?
Yes and no. KiwiSaver is there for long-term investing – to help you buy your first home or fund your retirement when you reach 65. It’s not for withdrawing it whenever you want (otherwise there wouldn’t be much for the long term).
But there are circumstances where you can access the money, such as applying under the significant financial hardship option.