When will I get my money?

The SSRSS schemes are about saving for your retirement, and your SSRSS savings (other than your voluntary savings) will not be readily available for any other purpose. You can withdraw some or all of the total value of your savings (including the value of your employer contributions):

  • on or after reaching the age of entitlement to New Zealand Superannuation (currently 65), whether or not you are retiring
  • at any time during the 10 years prior to the age of entitlement to New Zealand Superannuation (ie currently from age 55), upon retiring or partially retiring with no intention of increasing your hours of paid employment
  • from age 50, after resigning from State sector employment (with no intention of re-employment in the State sector)
  • 12 months after permanently emigrating from New Zealand.

In addition, if you are a schoolteacher or school principal, refer to Extra information for teachers.

You can access the value of your voluntary contributions at any time, up to twice per scheme year, subject to a minimum withdrawal amount.

In the event of significant financial hardship you can apply to the trustee of your SSRSS scheme to withdraw some or all of the total value of your savings, including the value of your employer contributions.  It will be up to the trustee of your SSRSS scheme (based on whatever evidence it may reasonably require) whether or not to grant your request.

The total value of your savings will be payable in the event of your total and permanent disablement, death or serious illness.

If you plan to make a first home purchase, and save with SSRSS for at least three years from 1 July 2007, you may qualify to withdraw your own contributions to help pay your first home deposit. Your employer contributions will remain in your SSRSS account.

When you become entitled to your savings you can choose when you take them. You can take all of the money as a lump sum, leave some of it in your SSRSS scheme or leave it all in the scheme (subject to any applicable minimums).

Please contact your SSRSS scheme provider for more information.

Calculator

Use the calculator below to work out your possible contributions:

(min 1.5%)

Annual contributions

$0.00

Fortnightly contributions

$0.00

Contact your scheme provider

Glossary terms

School
A State or State-integrated school in New Zealand.  
Serious illness
Serious illness as defined in the KiwiSaver scheme rules, which includes (but is not limited to) an illness that puts you at 'serious and imminent risk of death'.
SSRSS scheme
One of the three State Sector Retirement Savings Schemes (AMP, ASB and AXA) established under agreements between the State Services Commissioner and AMP, ASB and AXA.
Total and Permanent Disablement
Means your absence from service with your employer for six consecutive months (or such lesser period as the trustee of your SSRSS scheme may determine) by reason of injury or illness of such extent that in the trustee's opinion (after obtaining and considering such medical evidence as it considers appropriate) you are unlikely ever to engage in or work for reward to a significant extent in any occupation or work for which you are reasonably qualified by education, training or experience.
Total value of your savings
Is the value at any time of:
- your own contributions,
- plus your employer contribution,
- plus investment returns (or losses) after tax,
- less any withdrawals made,
- less any fees charged.
The amount may be more or less than the total contribution made depending on the performance of the investment fund (or funds) you have selected.
Trustee
The entity with the legal responsibility for managing your investment in an SSRSS scheme, in accordance with the rules of that SSRSS scheme.

More glossary terms