KiwiSaver withdrawals after you turn 65
You can withdraw all your savings when you turn 65, as long as you've been a KiwiSaver member for at least 5 years.
When you can withdraw your savings
You can withdraw your savings when:
- you turn 65, or
- if you joined KiwiSaver after you turned 60, once you've been a member for 5 years.
This is your end payment date.
How to withdraw your savings
Apply to your KiwiSaver provider to withdraw your savings.
- withdraw smaller sums when you need to
- make regular withdrawals, or
- take out the whole amount as a lump sum — your KiwiSaver account is then closed and you can't start contributing again.
Withdrawals from your KiwiSaver account are tax free in New Zealand.
Your savings include:
- all your contributions — regular payments, lump sums or transfers from another pension scheme
- government contributions
- contributions from your employer, and
- what your savings have earned while you've been in KiwiSaver.
What your provider needs
The first time you withdraw money from your KiwiSaver you need to make a statutory declaration. Contact your provider to get a form and find out what you need to do.
Leaving money in or continuing to contribute
If you leave money in your KiwiSaver account or keep contributing to it after you've reached your end payment date, you won't be eligible for the Member Tax Credit anymore.
Making withdrawals if you're overseas
If you're living overseas and make a withdrawal from your KiwiSaver account, you may have to pay tax in the country you're living in.