More people turning to KiwiSaver for hardship

Thursday, September 30th, 2021

Financial pressures, including lockdowns and job losses have led to a 43 percent rise in KiwiSaver members withdrawing funds for financial hardship.

And an 18.8 percent rise in first-home withdrawals shows more Kiwis are turning to KiwiSaver to help them save for a first home.

A KiwiSaver annual report released by the Financial Markets Authority (FMA) on Tuesday, shows cash-strapped Kiwis withdrew $159.3 million from their KiwiSaver accounts in the year to March 31, 2021, up from $111.5 million the year before.

The reporting period includes the level 4 and level 3 lockdown (March to May 2020) and the rise in unemployment, which peaked at 5.3 percent in the September 2020 quarter. Read more

Additional reading

News category: New Zealand, News Shorts.

Tags: Financial hardship, New Zealand economy

Fifth Gospel Living – book review

Simple, sweet, sometimes heart-breaking, and always invigorating, Fifth Gospel Living is the latest publication from Fr John O’Connor and his Food for Faith ministry. It comprises stories of personal encounters with God. The 96 reflections are the result of a Read more

Treaty of Waitangi should be considered as a covenant relationship

A hīkoi opposing the Treaty Principles Bill has made its way to Wellington. Those who took part in the hīkoi, along with supporters around the country, both Māori and non-Māori, consider the Bill to be a betrayal of the commitments Read more

Christianity stands on threshold of new Reformation

Keynote speaker Tomáš Halík (pictured) a leading Catholic intellectual and author from the Czech Republic, says Churches must transcend national, religious, cultural boundaries A new reformation for the 21st century must transcend “the current forms and boundaries of Christianity,” resist Read more

CathNews New Zealand