Withdrawing from Kiwisaver to pay for IVF
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Topic: Withdrawing from Kiwisaver to pay for IVF
Posted By: CarleyRose
Subject: Withdrawing from Kiwisaver to pay for IVF
Date Posted: 15 June 2011 at 10:27am
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My partner and I have been ttc since sept 08, we now have no other option but to go through IVF.
DH isn't really a spring chicken, so he wants to have a child as soon as possible, therefore we want to pay for IVF. I know that you can withdraw your kiwisaver if you have financial issues, but will they let you withdraw it for IVF? I would continue to pay into it, but just needing a helping hand at the moment. TIA  ------------- TTC Sept08 July10 FS APP ICSI#1 BFN-No frosties ICSI#2 BFN-2 Frosties FET-8th August - BFP 20/8/12 http://lilypie.com" rel="nofollow"> 
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Replies:
Posted By: LadyBee
Date Posted: 15 June 2011 at 11:11am
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I think you can only withdraw from KS and get your money (less govt contributions) under Significant financial hardship, serious illness, permanent emigration or first home purchase and will will need to apply in writing to your KS provider.
Under significant financial hardship you really have to prove your case, there was a thing on Campbell live a few months back about a couple pretty much bankrupt from the Earthquakes and they still could not withdraw their money from KS (altho I think the rules for CHCH have changed a little on that now). You could ring and ask ???
GL ------------- TTC for 4 1/2 years IVF #1 - April 2012 short BFP, no frosties IVF #2 - August 2012, BFP!! 3 frosties! http://lilypie.com" rel="nofollow"> 
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Posted By: CarleyRose
Date Posted: 15 June 2011 at 11:24am
Yeah i might do,thanks LB  ------------- TTC Sept08 July10 FS APP ICSI#1 BFN-No frosties ICSI#2 BFN-2 Frosties FET-8th August - BFP 20/8/12 http://lilypie.com" rel="nofollow">
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Posted By: TheBabe
Date Posted: 15 June 2011 at 5:02pm
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Good luck hun hope you can work it out and FX for a good IVF run!! ------------- Formerly 'Babe' Mama to my beautiful, busy boys Jake 01-07-2007 Tyler 20-02-2010 |
Posted By: myfullhouse
Date Posted: 15 June 2011 at 6:39pm
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Do you mean withdraw the contributions you have made already or do you mean stop making payments from now on? You can apply to take a contributions holiday but it takes ages it seems, I applied for DH to stop making payments ages ago because having the little extra would have been helpful but still haven't been told whether they have accepted it or not!
Good luck with the IVF ------------- Lindsey 
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Posted By: HuntersMama
Date Posted: 15 June 2011 at 6:58pm
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You can withdraw your funds, not the government or employer contributions. I know someone who withdrew some $$ and apparantely it wasnt that hard. I guess the different companies might have varying standards though. ------------- http://lilypie.com"> 
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Posted By: Luckymama23
Date Posted: 15 June 2011 at 7:30pm
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If you are in Christchurch you are eligible to withdraw your funds under a special 'earthquake' provision...
Good luck with the IVF ------------- 2 superstars too many miscarriages 2009-2014 |
Posted By: jaz
Date Posted: 18 June 2011 at 8:34am
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Easy enough to stop contributing but cashing in what you have so far is hard to do. If you own your own home you might be able to borrow against the equity in your house.
Good luck with the IVF. ------------- http://lilypie.com"> 
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Posted By: HoneybunsMa
Date Posted: 18 June 2011 at 2:20pm
Linzy his work may not have been told by kiwisaver yet. I opted out from KS with my last job and they still kept taking out the money turns out work hadn't been notified so check. We met with a mortgage broker the other night and he told us that even if your 65 you can't withdraw your money until after 5yrs of being in the plan so I would imagine its the same for withdrawing before 65 ------------- http://www.myfitnesspal.com/weight-loss-ticker"> 
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Linzy wrote: