What is Serious Illness Withdrawal?
A serious illness withdrawal allows early access to your KiwiSaver balance if illness or injury permanently affects your ability to work.
Detailed Explanation
Apply via your provider with supporting medical evidence. The provider's independent supervisor reviews the application against the legal definition: a permanent inability to engage in work for which you are suited, or an illness that poses a serious and imminent risk to life.
Example
A KiwiSaver member diagnosed with a permanent disability that prevents continued employment can apply to withdraw their full balance.
Frequently Asked Questions
Is the withdrawal taxed?
No — like most KiwiSaver lump-sum withdrawals, it is paid out gross of further tax.