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Help for quake-affected KiwiSavers

NZ NewswireNZ Newswire 22/11/2016

Piggy bank © iStock/Getty Images Piggy bank The government is making it easier for quake-affected KiwiSaver members to withdraw their funds.

Commerce Minister Paul Goldsmith says he's asked the supervisors of KiwiSaver schemes to meet requests for early withdrawals as quickly as they can.

He's also asked them to take the quake into account when they assess financial hardship applications.

"Supervisors have agreed to this approach," he said on Tuesday.

The rules allow early withdrawals if supervisors are reasonably satisfied that a member is suffering or is likely to suffer from significant financial hardship.

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