KiwiSaver and significant financial hardship

With your application you’ll need to provide documents to show you’ve explored all other avenues for debt assistance, even if you think you won’t be able to get any help.

• Talk to your bank and see if they can help with flexibility on loan repayments and money you owe. If you're looking to make a withdrawal for something essential like emergency repairs on your existing vehicle, your bank might be a good place to ask for help (e.g. they might be able to assist with a personal loan to help cover this expense).
• Work and Income NZ (WINZ): ask WINZ if you are eligible for any assistance (and make sure you keep the written confirmation from WINZ to provide as evidence).
• Check out ASB’s Support Finder to help you find financial support that might be available to you. By answering some simple questions we’ll help connect you with government benefits and services you may be eligible for – including some you might not know about.

You can also check out Sorted for help with other things you can do to cope financially. Your local Citizens Advice Bureau or Money Talks helpline can offer you free advice about government support, debt consolidation and finance options, and can help you complete a budget schedule.

If your financial hardship is likely to continue, you may wish to apply for a savings suspension through Inland Revenue.  A savings suspension allows you to take a break from making contributions to your KiwiSaver to help you meet your on-going living expenses. The form is available here.

Your hardship application is assessed on your total household income, expenses and assets. If you’re applying jointly with your spouse/partner, please note that we’ll require a separate application form from each of you.

• Certified copy of your identification (for non-verified ASB customers);
• An application form with the accompanying Statutory Declaration (see more in section below) properly signed and witnessed by an authorised person;
• Non-ASB bank statements for the last three months;
• Non-ASB credit card statements for the last three months;
• If you're a homeowner with a mortgage that isn’t with ASB, a mortgage statement showing your regular minimum mortgage repayments, outstanding balance and any overdue payments;
• If you rent, a copy of your current rental or tenancy agreement or certified letter from your landlord;
• Proof of wages or salary;
• Your redundancy notice if applicable;
• Statements showing current balances, regular minimum payment obligations, and current overdue payments such as finance company loans, rent, fines, personal or car loans, household bills;
  
• Letter evidence from WINZ confirming you are not eligible for support from them;
• Evidence you sought a repayment plan option with your provider for any that apply above or that you have tried to reduce this to the minimum repayment.

A Statutory Declaration is a signed written legal document, used as a formal way to provide evidence. You will need to sign the Statutory Declaration included with the application form in front of an authorised person, and they will need to witness it. The Statutory Declaration contains a list of people who are authorised to witness it, including:

• a Justice of the Peace; or
• a barrister or solicitor of the High Court; or
• a notary public; or
• the Registrar of Deputy Registrar of the High Court or of any District Court; or
• a member of Parliament; or
• officers of the Crown or of a local authority within the meaning of the Local Government Act 2002, authorised for that purpose by the Minister of Justice from time to time; or
• an employee of Public Trust constituted under the Public Trust Act 2001, authorised for that purpose by the Minister of Justice from time to time.

Statutory Declaration made outside New Zealand

A Statutory Declaration made in a Commonwealth country other than New Zealand can be made before a Judge, a Commissioner of Oaths, a notary public, a Justice of the Peace, a Commonwealth representative, a solicitor of the High Court of New Zealand or any other person authorised by the law of that country to administer an oath for a judicial proceeding. A Statutory Declaration made in a country other than a Commonwealth country can be made before a Commonwealth representative, a Judge, notary public or a solicitor of the High Court of New Zealand.

• All KiwiSaver schemes are trusts and have a supervisor, who is independent of ASB. The supervisor will decide how much you can withdraw based on your circumstances and your application information. We’re here to help you prepare your application so it can be considered by the supervisor.
• We’ll make the payment (if approved) to your bank account, and we may have to adjust the withdrawal amount for any tax liability arising as a result of your withdrawal request.