Kiwisaver

Buying your first home, are you eligible to withdraw money from KiwiSaver?

The KiwiSaver First Home Withdrawal Scheme is a huge help for first home buyers looking to enter the property market in New Zealand.

If you have been a contributing member of KiwiSaver for at least three years, have not owned a house or land before and have not made a KiwiSaver withdrawal before, you may be eligible to withdraw your KiwiSaver money to buy your first home. 

You can withdraw:

• all voluntary and compulsory contributions from your employer, 

• your own contributions, and 

• tax credits 

However, a minimum of $1,000 is required to be left in the account.

In some circumstances, you may qualify for a previous homeowner withdrawal through Kainga Ora if you have owned a house before, but no longer own any property and you’re in a similar financial position as a “first home buyer”.

We recommend that you contact your individual KiwiSaver provider and check their individual policy on withdrawals for first homes.By Fiona Taylor, Smith & partners, email fiona.taylor@smithpartners.co.nz, phone 09 837 6845.