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flag New Zealand sees a surge in KiwiSaver hardship withdrawals, raising concerns about retirement savings.

flag New Zealand's KiwiSaver retirement savings program is seeing a rise in hardship withdrawals, with 4,220 people withdrawing $37.6 million in April, up from 3,700 in the same month last year. flag Rupert Carlyon, founder of KiwiSaver provider Kōura, warns that using KiwiSaver for immediate financial needs undermines its purpose for retirement. flag Public Trust, a KiwiSaver supervisor, notes strict rules are in place to ensure withdrawals are for genuine hardship.

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