First-home withdrawal (KiwiSaver scheme)
A statutory withdrawal ground under the KiwiSaver Act 2006 that lets eligible members access their KiwiSaver scheme money toward purchasing a first home, subject to retaining a minimum balance.
A first-home withdrawal is a statutory ground for early withdrawal from a KiwiSaver scheme under Schedule 1 of the KiwiSaver Act 2006. Eligible members can withdraw most of their KiwiSaver scheme balance toward the purchase of a first home in New Zealand, subject to retaining a minimum balance (currently NZ$1,000) in the scheme.
Eligibility conditions include: having been a KiwiSaver scheme member for at least three years; intending to live in the property as a primary residence; meeting income and house-price caps where relevant; and previous owners qualifying only under separate "previous home-owner" rules. The withdrawal is administered by the scheme provider with confirmation from the scheme supervisor.
First-home withdrawal is distinct from the KiwiSaver scheme contribution itself and from the first-home grant (the latter is a separate Kāinga Ora subsidy with its own eligibility, no longer offered to new applicants from 2024). Detailed rules are published by Inland Revenue and Kāinga Ora.