A key KiwiSaver figure who oversees hardship claims is playing down the significance of last year's record number of claims.

New Zealanders took more than $109 million out of their KiwiSaver accounts last year.

Mark Jephson, chief executive of KiwiSaver trustee company Perpetual Guardian, says it's only a small representation of the scheme.

He told Mike Hosking there are more than 3 million people with KiwiSaver accounts, so this is a small representation of whats happening in society. 

"I think people have to realise that KiwiSaver, with its success, it will reflect what's happening economically and socially from time to time."

Jephson says that there are tests under the act that people have to meet in order to qualify for hardship grants. 

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