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flag KiwiSaver hardship withdrawals in New Zealand rose to $49.4 million in October 2025, reflecting growing financial strain amid stagnant wages and rising costs.

flag In October 2025, hardship withdrawals from New Zealand’s KiwiSaver scheme rose to $49.4 million, up from $38.4 million the previous year, reflecting growing financial strain. flag A mid-50s former senior manager, Tara, shared her struggle after 13 months of job searching, exhausting savings despite years of disciplined saving and debt repayment. flag She faces mortgage default in two weeks and criticized media portrayals of withdrawals as frivolous, noting expenses like job interview prep or vehicle sales may be essential. flag The process requires full financial disclosure, including partners’ details, and is rigorous, with experts warning that restricting access would harm those in crisis amid stagnant incomes and rising living costs.

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