|
If you are experiencing significant financial hardship, you can apply to the trustee of the Fidelity KiwiSaver Scheme to withdraw some or all of your contributions. The trustee must be satisfied that you are experiencing or will experience financial hardship, including difficulties that arise because:
- you are unable to meet minimum living expenses; or
- you are unable to meet mortgage payments on your principal family residence resulting in the mortgagee seeking to enforce the mortgage on the residence; or
- of the cost of modifying a residence to meet your, or your dependent’s, special needs arising from a disability; or
- of the cost of your, or a dependant’s medical treatment for an illness or injury; or
- of the cost of your, or a dependant’s palliative care; or
- of the cost of a funeral for a dependant; or
- you are suffering from a serious illness.
You will need to complete a statutory declaration stating your assets and liabilities and the significant financial hardship you are suffering or likely to suffer. Whether you may make a significant financial hardship withdrawal is at the discretion of the trustee.
As well as completing the required documents, the trustee must be satisfied that reasonable alternative sources of funding have been explored and have been exhausted.
How much can I withdraw?
If your application is accepted, you can withdraw a lump sum up to the value of your contributions less the government kick-start and member tax credits (these cannot be withdrawn). Your KiwiSaver account will remain open.
The amount available to be withdrawn may be limited to the amount that in the trustee’s opinion is required to alleviate the hardship.
If your application is successful, we are able to credit payment direct to your bank account or creditor (power/phone company etc) upon your request. You will still be a member of the Fidelity KiwiSaver Scheme, and you must continue contributing to the scheme, unless you take a contribution holiday.
Click here to download the Significant Financial Hardship application form
Click here to download the Asset and Liabilities worksheet
How do I apply?
Print the application and complete it. Your signature must be witnessed by a person qualified to take a Statutory Declaration. Send to us the following:
- The completed and signed application form
- Complete copies of three months’ bank statements
- Supporting documentation listing your assets and liabilities
The trustee may request further information if required.
Send them to us:
Fidelity Life Assurance Company Limited
P O Box 37-275
Parnell
Auckland 1151
Please keep a copy for your personal records.
|