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29 May 2020 22:12
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  •   Home > News > Business

    A record number of people have taken a bite out of their Kiwisaver to satisfy financial hardship

    A record number of people have taken a bite out of their Kiwisaver to satisfy financial hardship


    New Zealanders took more than 109-million-dollars out of their KiwiSaver accounts last year.

    The Financial Services Council's Richard Klipin says withdrawal numbers would be expected to naturally grow alongside Kiwisaver membership.

    But he says people have valid reasons for needing the money - and those struggling to manage finances often look for money where ever they can.

    Klipin says the fund is meant for retirement savings - so accessing it earlier will impact the long-term outcome.

    © 2020 Newstalk ZB, NZCity


     Other Business News
     29 May: The country's largest furniture and homewares retailer retailer will open its doors tomorrow... in what's being described as a significant boost for the local economy
     29 May: Fonterra says its China dairy import volumes climbed 10.1 per cent in March after two consecutive months of declines
     29 May: Coronavirus sparks unprecedented closure of UK pubs, causes 70 million pints of beer to be wasted
     29 May: Farmers are supporting the efforts, to keep our waterways clean
     29 May: Expectation that it will take 12 to 18 months till the country financially recovers
     28 May: Farmers are raising concerns about some of the challenges around the new healthy waterways package
     28 May: A zero rates increase is off the table for Christchurch residents
     Top Stories

    RUGBY RUGBY
    Provincial women's teams have been given the green light to return to the rugby pitch later in the year More...


    BUSINESS BUSINESS
    The country's largest furniture and homewares retailer retailer will open its doors tomorrow... in what's being described as a significant boost for the local economy More...



     Today's News

    Rugby League:
    Sydney Roosters coach Trent Robinson expects his players will be just fine despite two months away from the game 21:57

    Entertainment:
    Britney Spears self-quarantined for two weeks before her ex-husband Kevin Federline would allow her to see their sons 21:32

    Politics:
    Labour MP Louisa Wall has withdrawn from the party's selection battle for the Manurewa seat 21:17

    Entertainment:
    Lana Del Rey insisted "the culture is sick right now" after backlash over her comments on equality 21:02

    Entertainment:
    Robbie Williams wishes money didn’t exist 20:32

    Entertainment:
    Betty White jokes that vodka keeps her young 20:02

    Entertainment:
    Matthew McConaughey and his wife Camila Alves have donated 110,000 masks to hospitals in Texas 19:32

    Rugby:
    Provincial women's teams have been given the green light to return to the rugby pitch later in the year 19:17

    Entertainment:
    Queen Elizabeth II’s closest servants are working three-week shifts in rotation in order to keep the monarch safe from coronavirus 19:02

    Law and Order:
    Meanwhile At least seven people have been shot in Kentucky, with protesters turning out to demand justice for Breonna Taylor, a black woman fatally shot by police in her home 18:37


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