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FAQs - Retirement

How long will the withdrawal process take?

Full withdrawals will take around 2-3 weeks to process taking into account making a final Government contribution claim. Partial withdrawals not requiring a Government contribution claim should take around a week to process.

If your KiwiSaver account is closed immediately following eligibility, any employee or employer contributions received after the date of closure (due to the usual three month processing delay) will be paid directly by Inland Revenue to you. If you would prefer to receive one final payment from us you should wait three months (or more) for all of your employee and employer contributions to be received by us from Inland Revenue before making a final withdrawal and closing your account.

Can I keep contributing into my KiwiSaver account even when I am eligible to access my KiwiSaver savings?

Yes, you can. If you are working, your employer will continue to send your employee contributions to Inland Revenue who will in turn process and pass to Fisher Funds. If you are not working, payments can continue to be made by regular direct debit or automatic payment, or one-off lump sums via cheque or internet banking.

Will I still be entitled to receive employer contributions if I continue working beyond KiwiSaver retirement age?

Your employer is not legally required to keep making employer contributions once you turn 65. If you joined KiwiSaver (or a complying fund) before 1 July 2019, a 5 year minimum membership requirement applies if you were aged 60 or over when you joined. During the 5 year minimum membership period you are entitled to compulsory employer contributions if you are contributing from your wages or salary. We recommend for you to speak with your employer about this.

Once you’ve reached the age of 65 you can opt out of the 5 year minimum membership requirement, however if you do so you will forego your entitlement to compulsory employer contributions.

When am I eligible to withdraw savings transferred from an Australian Super provider?

Australian Super savings: Once your funds are transferred you can access them as long as you satisfy the Australian definition of retirement.

If I close my KiwiSaver account can I restart it at a later point?

Yes. If you close your KiwiSaver account or have closed one in the past, you can open a new KiwiSaver account so long as you’re living or normally living in New Zealand and a New Zealand citizen (or entitled to permanent residence).

Read more about KiwiSaver & Retirement »

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