KiwiSaver hardship withdrawals applications doubled

One of the organisations vetting KiwiSaver hardship withdrawals has said applications to dip into the retirement fund have more than doubled in the past two years. This comes as some fund managers have expressed concern about social media "how to guides" advising people to go into more debt or fudge their financials so they can crack open the retirement piggy bank early. Inland revenue figures show that in April 2025 hardship withdrawals were up $300 million on the year before. Public Trusts acts as a supervisor for various KiwiSaver schemes and decides which hardship withdrawals are signed off. General Manager of Corporate Trustee Services David Callanan spoke to Lisa Owen.