KiwiSaver First Home Withdrawal
After 3+ years of contributing, you can withdraw most of your KiwiSaver balance to buy your first home. You must leave $1,000 in the account.
If you've been contributing to KiwiSaver for at least 3 years, you can withdraw most of your balance to help buy your first home. You must leave at least $1,000 in your account.
The withdrawal can only be used for a home you'll live in yourself — not an investment property. You apply through your KiwiSaver provider, and the money goes directly to your solicitor as part of the settlement.
This is separate from the First Home Grant (which is additional money from the government). Many first home buyers use both their KiwiSaver withdrawal and the First Home Grant together.
Why this matters
For many young New Zealanders, their KiwiSaver balance is their largest asset. Understanding the first home withdrawal rules is crucial if home ownership is one of your goals. Start contributing early and at a higher rate if buying a home is in your plans — the 3-year clock starts from your first contribution.
Learn more
Read our guideRelated KiwiSaver terms
KiwiSaver
New Zealand's voluntary retirement savings scheme. You contribute a percentage of your salary (3%, 4%, 6%, 8%, or 10%), your employer matches at least 3%, and the government contributes up to $521/year. Money is locked until age 65 (with exceptions for first home and hardship).
First Home Grant
A government grant of $3,000-$10,000 per person for first home buyers who've been contributing to KiwiSaver for 3-5+ years and meet income caps ($95K individual / $150K combined).
PIE Tax
Portfolio Investment Entity tax. The tax rate on your KiwiSaver and managed fund returns. Your rate depends on your income: 10.5% (under $14K), 17.5% ($14-48K), or 28% (over $48K). Set it correctly to avoid overpaying.
Conservative Fund
A KiwiSaver or managed fund that invests mostly in bonds and cash. Lower risk, lower returns. Suitable if you're close to retirement or plan to withdraw soon.
Put this knowledge to work
Steady helps you track, save, and grow — with AI that speaks plain English.
Try Steady free