KiwiSaver Hardship Withdrawals Are at an All-Time High

Over 50,000 New Zealanders withdrew from their KiwiSaver last year due to financial hardship, the highest ever. While this provides short-term relief, early withdrawals can significantly reduce your retirement savings over time.

KiwiSaver hardship withdrawals are only approved for serious financial hardship, like struggling to pay essential living costs or urgent medical bills. It’s important to explore all other support options before tapping into your KiwiSaver.

Need advice? We’re here to help you navigate your options and protect your financial future.

This week’s market wrap covers New Zealand’s steady gains, Australia’s subdued resources performance, and U.S. equities hitting record highs. Discover how easing inflation, commodity pressures, and robust tech earnings are shaping investor sentiment, plus what to watch for in the coming week.

New Zealand’s largest provider...

Pretty shakey out there at the moment. The S&P 500 dropped 2.7% on Tuesday NZT (largest day drop since September 2022). Off the back of U.S. tariffs, government job cuts, heightened economic uncertainty and provoked recession concerns.

Question is, does your provider mitigate downside risk? Unlikely, if they invest passively.

A few awesome points on how to make sure your KiwiSaver is working as hard as you are.

"According to the Financial Services Council, KiwiSavers who get expert advice have about 52% more in their KiwiSaver account than those who don’t."

Your KiwiSaver can be a valuable tool for purchasing your first home. If you’ve been contributing for at least three years, you may be eligible to withdraw nearly all of your savings (excluding $1,000) to support your deposit. 🏡💰

Achieving the Kiwi dream of homeownership is within reach. Ensuring you're in the right fund with a provider that aligns with your goals can significantly impact the growth of your savings.

Your KiwiSaver fund type may have a huge impact on your balance! This article from September last year provides a bit of an insight into being in the wrong fund.