Want to buy your first home? You may be able to use your KiwiSaver money to help you.

First home withdrawal

You may be able to use money from your Aon KiwiSaver Scheme account to help you buy your first property in New Zealand. That property could be bare land on which you want to build your home, or a house that’s already there.

To be eligible, you need to:

  • have been a member of KiwiSaver (or a complying superannuation fund) for at least three years; and
  • intend living in the home you buy (you can’t use your KiwiSaver money to purchase an investment or rental property).

You can withdraw pretty much all of the money from your KiwiSaver account. You just need to leave in $1,000 plus any money that has been transferred from an Australian complying superannuation scheme.

It’s important to remember too that you can only make one first home withdrawal from KiwiSaver.

Already owned a home?

In general, KiwiSaver can only be used to buy your first property. 

However, there are some exceptions. You can find out more from the Kāinga Ora website

You may be eligible for a First Home Grant

A First Home Grant from Kāinga Ora – Homes and Communities (formerly known as Housing New Zealand) could give you even more money to put towards your deposit. 

Currently, if you’re eligible, the grant is $1,000 for each year you have been contributing to KiwiSaver, up to a maximum of $5,000. If you are buying as a couple and you’ve both been contributing to KiwiSaver, you can get a grant together of up to $10,000.

This amount doubles if you are purchasing a brand new home or buying a home off building plans.  

The First Home Grant is run by Kāinga Ora – Homes and Communities and you need to be a KiwiSaver member to apply. To find out more, and whether you’re eligible, visit the Kāinga Ora website.

Ready to withdraw money for your first home?

Here are the steps you need to follow to withdraw money to help you get your first home. 

  1. Find a solicitor (or licensed conveyancer) to help you through all the legal ins and outs of buying your first home and let them know you want to use your KiwiSaver money towards your first home.
  2. Talk to us about applying for a first home withdrawal.  You can call us on 0800 266 463.
  3. Take our First Home withdrawal application form to your solicitor to complete. Then send it to us with:
  • your sale and purchase agreement 
  • your solicitor’s or licensed conveyancer’s letter of undertaking 
  • your solicitor’s or licensed conveyancer’s deposit slip for their trust account.

You need to make sure all documentation is with us at least 10 working days prior to your deposit or settlement date.  You will also need to complete an AML identity verification form.  It can take up to 10 working days for us to process your withdrawal, so please contact us as soon as you know you need your savings for your first property. 

Like to know more? Contact us by email or call 0800 266 463.  

Get in touch
Aon KiwiSaver Scheme
Administration 0800 266 463