It's been widely reported in the New Zealand media that cost of living pressures have seen a rise in the number of significant financial hardship applications from KiwiSaver members. We’ve noticed a similar trend. Most applications are from members who are unable to meet the cost of their minimum living expenses. It’s worth noting that a significant financial hardship withdrawal [external link] is an avenue of last resort. It is not an automatic benefit, and your application must meet specific criteria before we will consider granting it. We have adopted the Financial Services Council NZ guidelines [external link] to help assess withdrawal applications. The guidelines are designed to create a balance between helping members address an immediate and urgent need for funds and achieving long-term financial security, particularly in retirement. If your application is reasonable and appropriate and falls within the guidelines, we will do our best to help you.