KiwiSaver: Serious Illness Withdrawal

KiwiSaver is designed to help you save for your first home or retirement. If you are suffering from a serious illness, you might be eligible for an early withdrawal due to extenuating circumstances.

What is a Serious Illness?

Under the KiwiSaver Act 2006, a serious illness is defined as an injury, illness or disability that:

• results is a member being totally and permanently unable to engage in work they are suited for by reason of experience, education or training (or a combination of these) or
• poses a serious and imminent risk of death.
   

For a serious illness withdrawal to be considered, medical evidence needs to be provided to show that a member meets the definition set out in the Act. It’s important to note that AMP does not have any discretion about the criteria all serious illness withdrawals must be the definition noted above to be eligible for a withdrawal. 

How do I apply for a Serious Illness Withdrawal?

Please complete a Serious Illness Application form which you can download here. As part of the withdrawal application you will need to provide:

• Completed withdrawal form:
  o   This includes a Statutory Declaration (Stat Dec). A Stat Dec must be completed in front a person authorised to take one. You can find more information on Stat Decs here.
  o   It’s also important that your doctor or specialist has completed section e of the form. This is the main information the Scheme Supervisor will review to determine whether you meet the withdrawal criteria.
• Certified identity documents (refer to section g of the withdrawal form)
• Certified copy of your bank proof for the account you are requesting the withdrawal to be paid into.
   

Once completed, email the completed form along with all required supporting documentation to kiwisaver@amp.co.nz. We’ve tried to make the process as easy as possible for you so everything you need to know about making the application is also detailed on the application form.

How does the process work?

We’ll assess your application and contact if you if we require anything further. If a completed application and all supporting documents are provided, we will forward the request to the Scheme Supervisor for a decision. If all required documents are sent through to us, we’ll be able to assess your withdrawal and give you an outcome within 15 working days.

Who is the Scheme Supervisor?

Serious Illness withdrawal applications are assessed and approved by Public Trust, the Supervisor of the AMP KiwiSaver Scheme. The Supervisor is a legally appointed, independent guardian of AMP investments and investors. They will determine whether the application meets the criteria for a serious illness withdrawal. AMP will help submit your application so that it will be considered by the Supervisor. All KiwiSaver providers undergo the same assessment process and methodology which is overseen by an appointed third-party Supervisor who reviews all serious illness withdrawal requests.