Making a first or ‘second-chance’
homebuyer withdrawal
Buying your first home is exciting and hopefully a bit easier by making a withdrawal
from your locked-in mysuper retirement savings. To guide you through the process of
making a withdrawal this guide will help you to:
get ready
apply
buy
Do I qualify?
What do I need
to do?
Making a first or
‘second‑chance’
homebuyer withdrawal.
Processing of
my application.
•
steps involved
•
confirm my Member details
•
timeframes
•
•
documents I
may / ​will need
confirm the amount
I want to withdraw
•
transfer of unlocked
retirement savings to my
locked account if required
•
provide my solicitor’s
details
•
complete a statutory
declaration
•
provide my solicitor’s
certificate
•
include supporting
documents required
•
submit my application.
•
who I contact to
complete a step.
This type of withdrawal is only available if you are making locked-in contributions to mysuper.
FH-04-17
Making a first or ‘second-chance’ homebuyer withdrawal
Page 1
Important
Under the KiwiSaver Act 2006, you may be able to make a one off withdrawal of your locked retirement savings if you
are purchasing your first home or if you meet House Corporation New Zealand (HCNZ) criteria as a ‘second-chance’
homebuyer.
The withdrawal of locked retirement savings from mysuper in the case of a home purchase is subject to the Trustee’s
approval. Your completed application form and all supporting documentation must be received when the sale and
purchase agreement is unconditional and at least 20 working days prior to the settlement date, so that we can
process your application.
If you don’t apply (and obtain approval) before settlement, you lose the opportunity to make an early withdrawal of your
locked retirement savings for your home purchase.
Supporting evidence must be supplied and signed by a Justice of the Peace, solicitor, Notary Public or another person
authorised to take a statutory declaration.
You must leave a locked balance of at least $1,000 in your mysuper locked account as required by the KiwiSaver Act 2006.
First homebuyer withdrawal
You can make a one off withdrawal up to the value of:
• Any locked-in contributions you and your employer have made;
• Any member tax credits (subject to you meeting the residency criteria during your mysuper membership); and
• Any investment earnings.
You’ll meet the eligibility criteria of a first homebuyer if:
• You have been a mysuper locked member (or KiwiSaver member) for three years or more; and
• You have not already made a homebuyer withdrawal from mysuper, any other KiwiSaver scheme, or any Complying
Superannuation Fund; and
• The property you purchase is intended to be your principal place of residence (i.e. you can’t buy an investment
property) and is located in New Zealand; and
• You have never held an estate in land (i.e. a house, section, apartment etc.) before either solely or jointly with another
person (there are some detailed rules regarding when a person holds an estate in land, contact us if you are unsure).
The purchase of an interest in a building on Māori land, where the building is intended to be principally used for
occupation as a private residence, can qualify as a first home.
‘Second-chance’ homebuyer withdrawal
If you have held an estate in land previously, but no longer hold a share in the property, you may qualify as a ‘secondchance’ homebuyer if you’re in the same financial situation as a first homebuyer (certain criteria apply).
If you’re applying for a ‘second-chance’ homebuyer withdrawal, you’ll need to provide written approval from HNZC
confirming that you meet the criteria with this application.
More information about ‘second-chance’ homebuyer withdrawals can be found at hnzc.co.nz or by calling them on
0800 801 601.
HomeStart Grant
The HomeStart grant is administered by HNZC and can’t be applied for through this Form. More information about
the HomeStart Grant can be found at hnzc.co.nz or by calling them on 0800 801 601.
Can I talk to someone?
Yes of course, please get in touch with us. You can email us at [email protected] or
call 0508 MY SUPER (0508 697 873).
FH-04-17
Making a first or ‘second-chance’ homebuyer withdrawal
Page 2
Making a first or
‘second-chance’
homebuyer
withdrawal
Please read this process if you would like to
make a first or ‘second-chance’ homebuyer
withdrawal. This type of withdrawal is
only available if you are making locked-in
contributions to mysuper.
Do I qualify?
Both types of withdrawal are only available if you are making locked-in contributions to your mysuper account.
You must also be able to meet the withdrawal criteria detailed below.
Do I qualify for a first homebuyer withdrawal?
You are making locked-in employee contributions to mysuper; and
At least 3 years have passed since you made your first locked-in contribution to mysuper
OR
You have been a Member of a Kiwisaver Scheme or a Complying Superannuation Fund for 3 years or more
(please attach evidence from your KiwiSaver provider on their letterhead the date you joined KiwiSaver); and
You have not already made a first homebuyer withdrawal from any KiwiSaver Scheme or a Complying
Superannuation Fund you have belonged to before; and
The property is intended to be the principal place of residence for you and your family; and
The property must be your first purchase of property in New Zealand (conditions apply – see the
‘Second-chance’ homebuyer withdrawal).
Do I qualify for a ‘second-chance’ withdrawal?
In the case of a ‘second-chance’ withdrawal, prior approval from HNZC is required.
You have prior approval from HNZC (required); and
At least 3 years have passed since you made your first locked-in contribution to mysuper
OR
You have been a Member of a Kiwisaver Scheme or a Complying Superannuation Fund for 3 years or more
(please attach evidence from your KiwiSaver provider on their letterhead the date you joined KiwiSaver); and
The property is intended to be the principal place of residence for you and your family.
If you are not currently making locked-in contributions to your mysuper account and want
to change your eligibility for a first homebuyer withdrawal visit our website to learn more:
mysuper.co.nz/how-mysuper-works/structuring-your-account
FH-04-17
Making a first or ‘second-chance’ homebuyer withdrawal
Page 3
What do I need to do?
Common steps, timeframes and costs involved with a first or ‘second-chance’ homebuyer withdrawal are outlined below
as a guide.
Steps
Timeframe
CONFIRM:
n / ​a
Related documents
Cost
Who to contact
Free
If you need help
you can call
Your mysuper locked-in account balance
online at mysuper.co.nz
0508 MYSUPER
(0508 697 873)
Log in and go to Your super amount / ​
Account summary for a summary of your
balance(s).
Work out at the beginning the funds you
have access to.
DECIDE:
If you want to transfer part of your
unlocked account balance to your locked
account.
10 working
days
Transfer of unlocked retirement
savings to my locked account
form
Free
mysuper.co.nz/
make-account-changes
10 working
days
First homebuyer quote printed
on letterhead for your bank.
Free
mysuper.co.nz/
withdraw/
first-home-withdrawal
Free
HNZC – homestart.co.nz
Free
HNZC – homestart.co.nz
Did you know that the mysuper Trust Deed
may allow you to transfer your retirement
savings from your unlocked account to your
locked account to help you boost your first
home deposit – this must be completed and
approved before submitting a first home
withdrawal application.
REQUEST:
A first homebuyer withdrawal quote
from mysuper
You can then show your bank / l​ending
provider the funds you have access to.
CHECK:
4-6 weeks
With HNZC if you qualify for their
HomeStart grant
If eligible this could boost your
deposit even more.
Yes, I am eligible for a HNZC
HomeStart grant
10 working
days
You must supply HNZC with a
detailed transaction record of
superannuation contributions
you’ve made.
ENGAGE:
Agree with
your chosen
solicitor
• Solicitor’s certificate,
completed by solicitor
A solicitor
You need your solicitor to help you provide
documents to complete your
Withdrawal Form and to assist
with your property purchase.
COMPLETE, SIGN AND SUBMIT:
Your mysuper First Homebuyer
Withdrawal Form
Once received, your application will be
processed by mysuper.
Any additional information,
if required, will be requested from you by
our Administration Manager.
FH-04-17
Your chosen solicitor
• Pre-printed bank deposit slip
for solicitor.
Allow 10
working
days
Once a conditional offer has been made
or unconditional offer has been accepted,
you’ll be able to complete your application
with your solicitor and submit it to mysuper.
PROCESSING:
• Copy of sale and purchase
agreement
Agree
with your
chosen
solicitor
You are required to submit a
number of documents with
your application. Refer to the
checklist on page 10 to make
sure you have included them all.
Free
mysuper team
by emailing:
[email protected]
Engage you solicitor / ​
conveyancer to help you
complete this form.
2-6 weeks
An email will be sent to you from
the mysuper Administration
Manager confirming successful
processing of your application
and to advise when funds will be
transferred to your solicitor for
settlement.
Free
mysuper team
by emailing:
[email protected]
Making a first or ‘second-chance’ homebuyer withdrawal
Page 4
Making a first or
‘second-chance’
homebuyer
withdrawal
Please complete this form if you would
like to make a first or ‘second-chance’
homebuyer withdrawal. This type of
withdrawal is only available if you are
making locked in contributions to mysuper.
Member’s Personal Details
First Name(s):
Last Name:
D
Date of Birth: D M M Y
Y
Y
Y
Member Number:
Address: Mobile:
Personal Email:
Postcode: Withdrawal Details
Please tick the type of withdrawal you would like:
First homebuyer withdrawal
Applies if you have not held an estate in
land before (whether alone or jointly with
another person).
OR
‘Second-chance’ homebuyer withdrawal
Applies if you have held an estate in land before but no
longer have a share in property. Your application will
need to include written confirmation from HNZC that it
is satisfied you meet the criteria for a ‘second-chance’
homebuyer withdrawal.
Withdrawal request
Please note you can only withdraw up to the value of:
• Any locked contributions that you and your employer have made;
• Any member tax credits;
• Any investment earnings on your locked contributions; and
You must leave a locked balance of at least $1,000 in your mysuper locked account.
Important: The transfer of any retirement savings from your unlocked account to your locked account to help you boost
your first home deposit must have been completed prior to submitting your first homebuyer withdrawal application.
FH-04-17
Making a first or ‘second-chance’ homebuyer withdrawal
Page 5
Amount of withdrawal
Subject to the requirement of the KiwiSaver Act 2006 and the mysuper Trust Deed, I request:
$________________ Locked retirement savings
(You must specify an amount – DO NOT write “ALL”)
Important:
• You must leave a locked balance of at least $1,000 in your mysuper locked account as required by the KiwiSaver Act 2006.
• The transfer of any retirement savings from your unlocked account to your locked account must have been made prior
to your first homebuyer withdrawal application being submitted.
• Once you have made a transfer of retirement savings from your unlocked account to your locked account it cannot be
reversed or changed for any reason, including if you change your mind. Your transferred money will become subject to
the Compliant Fund Rules.
Any partial withdrawal will be deducted proportionally from each mysuper Investment Fund that you have invested in.
If you make a withdrawal of your full available balance from mysuper, you will remain a Member in mysuper and you will
continue contributing to mysuper, subject to the requirements of the mysuper Trust Deed.
Please note, the Administration Manager will adjust your withdrawal transaction for any tax liability arising as a result
of your withdrawal request. Acceptance of your first or ‘second-chance’ homebuyer withdrawal request is at the
discretion of the Trustee.
Your withdrawal will be processed at the current interim interest rate. The withdrawal will be paid direct to your
solicitor’s trust account (the withdrawal will never be paid to your bank account).
The first or ‘second-chance’ homebuyer withdrawal request will be processed by mysuper. If you have any questions
regarding payments in progress, you can contact us at 0508 MYSUPER (0508 697 873)
Solicitor’s Details
Any payments will only be paid in New Zealand dollars to your solicitor’s trust account.
Solicitor’s details
Name:
Firm Name:
Address
Street Address:
Suburb:
Town / ​City:
Telephone: Email Address:
FH-04-17
Postcode: Making a first or ‘second-chance’ homebuyer withdrawal
Page 6
Statutory Declaration
Please do not complete this section in advance. It must be completed and signed in front of a Justice of the Peace,
a solicitor, Notary Public or other person authorised to take an Oath or Declaration in accordance with section 9 (for
declarations made in New Zealand) or with section 11 (for declarations made outside New Zealand) of the Oaths and
Declarations Act 1957. A Conveyancer is not authorised for this purpose under the Oath’s and Declarations Act 1957
and is only valid for 30 working days after being completed.
I, (Name):
of (Residential address): Occupation:
Solemnly and sincerely declare that:
• I have read the Privacy Statement in this Form;
• I have never made a withdrawal from mysuper, a KiwiSaver scheme, a Complying Superannuation Fund for a home
purchase before;
• I have been a locked Member of mysuper or one or more KiwiSaver schemes or Complying Superannuation Funds
for three years or more;
• The property I am purchasing is intended to be my principal place of residence;
• If I am purchasing an interest in a building on Māori land, the building is intended to have as its principal use
occupation as a private residence and is intended to be my principal place of residence;
• I have either not held an estate in land before, or any previous estate was or is held on the basis described in clause
8(5) of Schedule 1 of the KiwiSaver Act 2006 or, if this is not the case, I attach written notice from the Minister of
Housing (or delegate) confirming that I qualify as a ‘Second-chance’ homebuyer;
• I understand that should the information given be incomplete or incorrect, mysuper will not be able to complete its
assessment of my application – you must supply the following information:
– a pre-printed bank deposit slip for my Solicitor’s trust account; and
– a certificate from my Solicitor containing an undertaking (in a form acceptable to the Trustee) relating to the
unconditional nature of the sale and purchase agreement and the application of funds withdrawn and enclosing
a copy of the Sale and Purchase Agreement which clearly shows me as the purchaser; or
– a certificate from my Solicitor containing an undertaking (in a form acceptable to the Trustee) relating to the
funds will be held on trust in my Solicitor trust account to enable me to secure a home loan. If settlement is not
completed within 90 day the funds will be repaid by my Solicitor within 5 business days with no deductions or
disbursements having been made to the amount released to the Solicitor; and
• I understand that I’m solely responsible for requesting the transfer of any retirement savings from my unlocked
account to my locked account and I must do so before this first homebuyer withdrawal application is submitted.
• I understand that once a transfer of unlocked retirement savings to my locked account has been made it cannot be
reversed or changed for any reason, including if you change your mind. Your transferred money will become subject
to the Compliant Fund Rules.
• I agree that any Solicitor who has or will provide information about my first or ‘second-chance’ homebuyer
withdrawal may be approached by mysuper and I hereby authorise such Solicitor, to give such further information in
relation to this purchase as requested by mysuper. A photocopy of this authorisation shall be read as the original;
• If settlement under the Agreement is not completed by the due date (or any extended date), or in the case of a
Home Loan Deposit, 60 working days from date of approval by the Trustee, the Funds will be repaid to the mysuper
within 5 working days with no deductions or disbursements.
FH-04-17
Statutory Declaration
Page 7
• I understand that my withdrawal value will be based upon the interim interest rate at the date my request is processed
and that fees, taxes and expenses arising as a result of the withdrawal may be deducted from my mysuper account.
See the current mysuper Investment Statement, available from mysuper.co.nz for further information;
• I understand, as required by the KiwiSaver Act 2006, that I must retain $1,000 in my locked accounts
that cannot be withdrawn for a first homebuyer withdrawal.
Please select which one applies.
During my mysuper membership my principal place of residence was New Zealand; or
uring my mysuper membership, there were periods when my principal place of residence was not New Zealand.
D
To the best of my knowledge, the periods during my mysuper membership when my principal place of residence
was outside New Zealand were:
AND I MAKE this solemn declaration conscientiously believing the same to be true and by virtue of the Oaths
and Declarations Act 1957.
Signature:
Declared at:
Location: D
On D M M Y
Y
Y
Y
Before:
Name:
Occupation: Please print the name and occupation of the person taking the declaration,
being a person authorised under the Oaths and Declarations Act 1957.
Signature:
Stamp of
authorised
person
Privacy
I agree that the Trustee or any of their authorised agents (each an “Authorised Person”) may collect and use the
information set out in (or in connection with) this Form for the purpose for which it is provided. Each Authorised
Person will hold the information securely and may use it in developing and running mysuper. I may ask any Authorised
Person, in writing, to show me the personal information it holds about me to make corrections to it. The information
set out in this Form will be collected and held by mysuper whose address is Level 7, 19 Aitken Street, Wellington 6011.
FH-04-17
Statutory Declaration
Page 8
To be completed by a Solicitor on their letterhead.
To: Shamrock Superannuation Limited, Trustee of mysuper Superannuation Scheme (the Scheme)
Re: (Member First Name)
Reference:
(mysuper Membership Number)
(the Member)
(Member Last Name) We refer to the Member’s application for a first or ‘second-chance’ homebuyer withdrawal from the Scheme (the Application),
which relates to:
(the Property).
• the purchase of (Details of the Property)
The settlement date for the Property is D D M M Y
Y
Y
Y ; or
(the Home Loan Deposit)
• the application of a Home Loan from (Details of the Bank)
Documents
We enclose copies of the following:
• The agreement for sale and purchase of the Property with (Vendors Name)
dated D D M M Y
Y
Y
Y (the Agreement) (delete if not applicable); and
• Our pre-printed bank deposit slip of our trust account.
Undertaking
We undertake to you that:
• We act for the Member, who is to purchase the Property under the Agreement or the applicant of the Home Loan Deposit; and
(delete the option which is not applicable)
• The Member has either not held an estate in land before, or any previous estate was or is held on the basis described in Rule 8(5)
of the KiwiSaver Scheme Rules or, if this is not the case, the Member has attached a written notice from the Minister of Housing
(or delegate) confirming that the Member qualify as a ‘Second-chance’ homebuyer; and
• Any funds received by us pursuant to the Application (the Funds) will be paid to or applied as instructed by the Vendor as part
of the purchase price (delete if not applicable); or
• If settlement under the Agreement is not completed by the due date (or any extended date), or in the case of a Home Loan Deposit,
90 days from date of approval by the Trustee, the Funds will be repaid to the Scheme within 5 business days with no deductions or
disbursements.
I confirm that I hold a current Practising Certificate issued pursuant to the Lawyers and Conveyancers Act 2006.
Name of Law Firm (if any)
Firm Name:
Email Address:
Partner / ​Principal
Stamp of
authorised
person
Name: Signature: FH-04-17
On:
D
D M M Y
Y
Y
Y
Checklist
Before returning this Form, please make sure that you are fully aware of the requirements you must meet in order to
qualify for this withdrawal and have:
completed all sections of this Form, including the statutory declaration; and
attached a letter from your solicitor in our prescribed form that includes the required undertakings; and
attached Solicitor pre-printed bank deposit slip; and
attached a copy of the unconditional Sale and Purchase Agreement which clearly shows that you are the purchaser
of the property (i.e. it can’t be purchased by a trust, company or partnership); or
attached evidence of your right to occupy the Māori land (purchase of an interest in a building on Māori land only);
or
attached confirmation from Housing New Zealand that you qualify as a ‘second-chance’ homebuyer
(‘second-chance’ homebuyer only).
ave completed the transfer process for any unlocked retirement savings to your locked account before submitting
h
your first homebuyer withdrawal application (if applicable).
How to submit my application
Post the original form and all supporting documents to:
mysuper
Freepost 130993
PO Box 1849
Wellington 6140
OR
Email copies of your
completed form and all
supporting documents to
[email protected]
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in accordance
taxes and expenses arising as a result of the withdrawal may be deducted from my mysuper account.
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land, the building is intended
following:
ts
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interest in a building on Māori
regarding paymen
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from HNZ
Name:
We undertake to you that:
Firm
– a certificate from my
and the application
a share
withdraw
rmation
hance’
Occupation:
sale and purchase agreement
ebuyer
longer have de written confi
a ‘second-c
me as the purchaser; or
unconditional nature of the
e in
for
shows
•
We
clearly
First hom
ria
act
for
which
estat
inclu
the
Member, who is to purchase
st the crite
an
Agreement
need to Addres
the Property under the
not held
relating to the
a copy of the Sale and Purchase
ly with
(delete the option which
you mee
Agreement or the applicant
acceptable to the Trustee)
if you have alone or joint
is not applicable)
al. s:
of the Home Loan Deposit;
is satisfied withdraw
name and occupation
the person taking the declaration,
an undertaking (in a form Please print the
Applies
settlement isofnot
ther
and
from my Solicitor containing
erStreet Addres
to secure a home loan. If
re (whe
– a certificate e:
• The Member has either
Stamp of
to enable mebeing
or and Declarations Act 1957.
a persondays
authorised
the Oaths
homebuy
deductions
Postcod
land befo
not held an estate in land
in my Solicitor trust account
with nounder
before, or any previous
funds will be held on trust
authorised
person).
of the KiwiSaver Scheme
my Solicitor within 5 business
estate was or is held on
Suburb:
another
Rules or, if this is not the
the funds will be repaid by
the basis described in Rule
case, the Member has attached
person
completed within 90 day
to the Solicitor; and
(or delegate) confirming
8(5)
a written notice from the
that the Member qualify
made to the amount released
Minister of Housing
as a ‘Second-chance’ homebuyer;
Signature:
disbursements having been
Town/City:
savings from my unlocked
and
• Any funds received
the transfer of any retirement
by us pursuant to the Application
submitted.
solely responsible for requesting
withdrawal application is
(the Funds) will be paid
of the purchase price (delete
• I understand that I’m
before this first homebuyer
to or applied as instructed
so
do
Telephone:
must
I
if
not
and
applicable);
by the Vendor as part
be
or
of:
account to my locked account
uest
has been made it cannot
• If settlement under
savings to my locked account
to the value
awal req
the Agreement is not completed
subject
made; Email Address
draw up
a transfer of unlocked retirement
Withdr
by the due date (or any
transferred money will become
loyer have
90 days from date of approval
only with
• I understand that once
extended date), or in the
change your mind. Your
by the Trustee,
your emp
you can
case of a Home Loan Deposit,
any reason, including if you
you and
disbursements
I agree that the Trustee or any of their authorised agents (each an “Authorised
Person”)
may collect and use the the Funds will be repaid to the Scheme within
reversed or changed for
.
Please note
ions that
5 business days with no
ribut
Rules.
deductions or
information set out in (or
in connection with) this Form for the Ipurpose
for which it is provided. Each Authorised
to the Compliant Fund
locked cont
confirm
first or ‘second-chance’ homebuyer
I hold a current Practising
and
about my
• Any
in use it in developing andthat
its;
unt.
Certificate
Person will hold
the information securely
and may
running mysuper.
I may ask any
Authorised
information
ributions;
issued pursuant to the Lawyers
who has or will provide information
tax cred
Solicitor, to give such further
locked acco
and Conveyancers Act 2006.
• I agree that any Solicitor
locked cont
authorise such
member
of to
t
Law
Firm
original;information it holds Name
Person, in writing,shall
to show
me the
personal
about me
make
corrections
(if any) to it. The information
mysuper
as the
by mysuper and I hereby
on your
• Any
be read
you boos
authorisation
0 in your
withdrawal may be approached
t earnings
A photocopy of this
unt to help
set out in this Form will be collected and held
by mysuper whoseFirm
address
is Level 7, 19 Aitken Street, Wellington 6011.
least $1,00
investmen
as requested by mysuper.
cation.
Name:
locked acco
ce of at
• Any
relation to this purchase
date), or in the case of a
to your
rawal appli
locked balan
by the due date (or any extended
account
er withd
leave a
to the mysuper
the Agreement is not completed
homebuy
unlocked
Email Address:
the Funds will be repaid
You must
• If settlement under
approval by the Trustee,
your first
from your
working days from date of
t savings
submitting
Post the original form and all supporting documents to:
Home Loan Deposit, 60
retiremen pleted prior to
or disbursements.
Page 5
any
deductions
no
of
Partner/Princ
al
with
days
fer
com
ipal
within 5 working
withdraw
t: The trans must have been
ebuyer
mysuper
sit
Importan
ance’ hom
Page 6
Name:
home depo
withdrawal
‘second-ch
Freepost 130993
Stamp of
homebuyer
your first
a first or
Making
or ‘second-chance’
authorised
Page 7
PO Box 1849
Making a first
Statutory Declaration
person
Wellington 6140
Signature:
requirement
Subject to the
er Act
of the KiwiSav
___ Locked retirem
$_____________
Important:
ls
nal Detai
s Perso
Member’
ils
Solicitor’s Deta
ls
al Detai
Withdraw
Privacy
FH-03-17
FH-03-17
FH-03-17
FH-03-17
On:
FH-03-17
D
D
M M
Y Y
Statutory Declaration
Y Y
Page 8
Processing of my application
The first or ‘second-chance’ homebuyer withdrawal will be processed by mysuper.
Processing of your application can take between 2-6 weeks to reach approval.
Should we need any further information from you during this time we will contact
you or your solicitor.
Once approved we will contact you and your solicitor, advising date of payment.
FH-04-17
Feel free to contact us
at [email protected]
if you have any issues
submitting your application
The application process Page 10