KiwiSaver hardship withdrawals are at record highs
What's happening: Tens of thousands more New Zealanders are struggling under the cost of living crisis as KiwiSaver hardship withdrawals reach new highs. Both the number of Kiwis making withdrawals and the amount taken out have smashed last year’s figures in just 10 months. Inland Revenue data shows between July 2024 and April 2025, more than $389.4 million had been withdrawn from KiwiSaver for financial hardship reasons, up from $300.5m in the year to June 30, 2024. A total of 44,360 people had withdrawn money from KiwiSaver for hardship reasons, up from 32,480 in the previous financial year.
The response: David Verry, financial mentor at Auckland Central Budgeting and North Harbour Budgeting Services, said it was no surprise to see those figures. "Across the board we’re seeing increases in the number of people approaching us for KiwiSaver hardships," he said. "I’d have to say probably two out of three people that have approached me in recent times have been looking for KiwiSaver hardship withdrawals." Verry said some financial mentors have seen a doubling of those seeking withdrawals over the last two years. There were now people fronting up for their second round of hardships, he said.
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Poll: 🗑️ Would you be keen to switch to a fortnightly rubbish collection, or do you prefer things as they are?
Aucklanders, our weekly rubbish collections are staying after councillors voted to scrap a proposed trial of fortnightly pick-ups.
We want to hear from you: would you be keen to switch to a fortnightly rubbish collection, or do you prefer things as they are?
Keen for the details? Read up about the scrapped collection trial here.
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83.5% Same!
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16.5% Would have liked to try something different
Time’s Running Out - Score Your Dream Bed Today!
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