The great news is that after you turn 65 years of age, you can start to make withdrawals from your KiwiSaver savings. You have a lot of flexibility on how you choose to do this. You can withdraw:

• all of it as a lump sum
• as regular withdrawals

To start making withdrawals, you simply need to complete a withdrawal form from your KiwiSaver provider, plus a statutory declaration. If you joined KiwiSaver before 1 July 2019 and were aged between 60-64 you previously would have been locked into KiwiSaver for 5 years. But changes to the rules mean that once you turn 65, you can choose to opt out and withdraw your savings, or you can keep your money in KiwiSaver for the full 5-year term. If you choose to opt out, you will stop receiving contributions from your employer and the government.