Posts Tagged ‘Financial hardship’

KiwiSaver hardship withdrawals double as New Zealanders struggle

Thursday, December 7th, 2023

New Zealanders are withdrawing money from their KiwiSaver schemes to help them through financial hardship at twice the rate of last year – and one supervisor says it’s largely because of rising interest rates. Data from Inland Revenue shows that there was $21.5 million withdrawn from KiwiSaver accounts for reasons of financial hardship in October, Read more

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 Read more