Benefits are locked in until age 65 or after a minimum five years of membership, whichever is the later.
Early withdrawals are permissible in cases of significant financial hardship, permanent emigration, serious illness, death, or to assist a first home purchase.
Members are not able to make an early withdrawal of member tax credits if they permanently emigrate or suffer serious illness. In addition, the member tax credit was not able to be withdrawn under mortgage diversion. The mortgage diversion facility was removed from KiwiSaver on 1 June 2009.