Lockdown hardships push more people to get Kiwisaver funds out earlier

Author
Newstalk ZB,
Publish Date
Wed, 20 Oct 2021, 7:35AM
(Photo / File)
(Photo / File)

Lockdown hardships push more people to get Kiwisaver funds out earlier

Author
Newstalk ZB,
Publish Date
Wed, 20 Oct 2021, 7:35AM

Financial hardship thanks to lockdown means more people are trying to get their Kiwisaver funds out earlier.  

Budgeting advisers say there's been a 25 to 40 per cent increase in the number of payouts being approved.  

That means an increase in rejected applications that they don't quite meet the hardship standard -  and this is proving tough for some to hear.  

Financial Services Complaints CEO, Susan Taylor told Kate Hawkesby they have noticed increased demand for their services.

"We’ve had about a five to ten percent increase, just in the last few months, which we see as a bit of a trend happening.” 

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