This section explains:
- your options when you retire or leave work to go to another job - this includes leaving your savings invested in UniSaver and becoming a retained member.
- the range of in-service benefits available.
If you make a partial withdrawal for any reason and you are invested in more than one investment option, funds will be withdrawn pro rata across those options.
Benefits when you leave
Your benefit is the same whatever your reason for leaving. However, standard and locked sections have different rules about when you can withdraw your money.
Retained membership
You don't need to withdraw your money from UniSaver when you leave work. You can choose to leave all or part of your benefit in UniSaver and become a retained member.
First-home withdrawal
UniSaver offers a first-home withdrawal facility on the same basis as KiwiSaver. You may be able to make a withdrawal as a previous homeowner in certain circumstances.
Subsequent home withdrawal
The subsequent home withdrawal is designed to help keep a roof over your head if you are facing serious financial hardship.
Significant financial hardship withdrawal
We may be able to assist if you need help to meet urgent and unexpected expenses beyond your reasonable control.
Medical withdrawal
Find out about making a withdrawal on the basis of serious illness or a life-shortening congenital condition.
Other in-service withdrawals
Information about relationship property settlements, transferring locked funds to KiwiSaver and other in-service withdrawals.
Death benefit
Your benefit is paid to your legal personal representatives if you die while a member of the scheme.