Podcasts Other The Mike Hosking Breakfast Glenys Talivai: KiwiSaver experiences spike in financial hardship withdrawals

Glenys Talivai: KiwiSaver experiences spike in financial hardship withdrawals

Published: Aug. 31, 2020, 11:53 p.m.

People dipping into their Kiwisaver because of hardship might need more than one withdrawal.
There's been a 20 per cent spike in the number of people applying for a withdrawal on hardship grounds, and that number's expected to grow.
Public Trust chief executive Glenys Talivai told Mike Hosking Kiwisaver is intended for retirement - so you have to be in serious hardship to be granted a withdrawal.
"People can get access to the fund approved multiple times if their situation doesn't improve."
Talivai says an increase in applications is expected when the Wage Subsidy Scheme ends.
"The intention of Kiwisaver is for retirement - so you have to be in serious hardship to be granted a withdrawal."
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