Where a member of a KiwiSaver scheme is suffering or is likely to suffer significant financial hardship they are able to withdraw funds from the scheme before reaching the superannuation qualification age.

The KiwiSaver Regulations 2011 made on 18 April 2011, prescribe additional matters that may be regarded as having the potential to cause significant financial hardship. These Regulations now include property damage or destruction, loss of employment, and costs incurred as a result of the Canterbury earthquake aftershock on 22 February 2011 as matters recognised as having the potential to cause significant financial hardship, enabling an early withdrawal of funds from Kiwisaver.

The regulations came into force on 22 April 2011 and expire on 23 January 2012.

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