You can only make a withdrawal request from mysuper if you are leaving your employer (resigned, retired or redundant) and some rules apply - see below.
If you've chosen to make locked contributions you can't withdraw your locked retirement savings until you reach the NZ superannuation age (currently 65 years).
However, if you're over 60 when you make your first locked contribution you can't withdraw your locked retirement savings for 5 years. For example, if you are 62 when you make your first locked contribution you can't withdraw your locked retirement savings until age 67.
We aim to pay and/or transfer your superannuation 30 working days after your last scheduled pay from your employer. The following reasons will delay your payment and/or transfer:
- You've not completed your withdrawal form before your last day of employment with your employer
- You've not provided all the information requested or the information provided was incorrect
- You have locked contributions to transfer but your new Kiwisaver provider hasn't supplied the information to transfer your locked retirement savings
- You've requested payment to a bank account different from the bank account you received your salary
- You've changed your name by marriage or deed poll and not informed mysuper in writing with certified copies of the relevant documents.
Investment Advice Disclosure
Money from your mysuper account forms an important part of your retirement savings. To ensure you reinvest your money in a way that will best meet your retirement needs, you may wish to obtain investment advice.
For investment advice relating to your specific circumstances, mysuper recommend that you consult an Authorised Financial Adviser. You can find a list of Authorised Financial Adviser in your area at fma.govt.nz (fees may apply).
As at 30 September 2016 no fee will be charged for this type of withdrawal due to changes related to transition of mysuper into the Financial Markets Conduct Act 2013.