Kiwisaver withdrawals due to hardship have hit a record high
Cost-of-living pressures are driving record numbers of Kiwis to seek financial hardship relief through KiwiSaver, while there’s also been a rise in fraudulent attempts to access Kiwisaver money. New data from the Inland Revenue Department (IRD) shows a record $48.9 million was withdrawn in September for hardship reasons, and 5530 people dipped into their retirement fund - also a record high. In this year’s first financial quarter $134.6m has been withdrawn from KiwiSaver for hardship reasons, up 22.5% on the same period last year.
Money woes: At the Public Trust, a Kiwisaver supervisor in charge of approving hardship withdrawals, up to 50% of current cases are for repeat withdrawals, spokesman David Callanan said. Typically applications happened when someone’s employment circumstances changed or they had a setback, he said. “But now we’re also just seeing people who found themselves in arrears with bills. They’re unable to pay off their credit card, they’ve just run out of that rainy-day savings account. For many, KiwiSaver is the last accessible pool of funds when you’re in a crisis.” The trust was also seeing fraud on a daily basis - where people were faking documents to prove hardship.
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Poll: 🤖 What skills do you think give a CV the ultimate edge in a robot-filled workplace?
The Reserve Bank has shared some pretty blunt advice: there’s no such thing as a “safe” job anymore 🛟😑
Robots are stepping into repetitive roles in factories, plants and warehouses. AI is taking care of the admin tasks that once filled many mid-level office jobs.
We want to know: As the world evolves, what skills do you think give a CV the ultimate edge in a robot-filled workplace?
Want to read more? The Press has you covered!
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58.5% Human-centred experience and communication
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13.1% Critical thinking
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25.7% Resilience and adaptability
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2.7% Other - I will share below!
Poll: Should complete designs be shared with the public, or should the community help shape the designs from the start?
The Post recently shared an opinion piece on the Harbour Crossing and why a more democratic approach might be needed 🚗🚲👟
While most decisions sit within the political arena, many organisations—like NZTA—manage long-term projects that go beyond party lines. Politics can sometimes disrupt progress, and the next Harbour Crossing is a big decision that will affect all Aucklanders.
We’d love your thoughts: Should near-complete, shovel-ready designs be shared with the public, or should the community have a hand in shaping the designs from the start?
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77.1% Community feedback and transparency is needed.
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22.9% No. This would be impossible in practice.
Brain Teaser of the Day 🧠✨ Can You Solve It? 🤔💬
Make a hearty dish. Take just half a minute. Add four parts of kestrel. Then just add one. What have you made?
(Trev from Silverdale kindly provided this head-scratcher ... thanks, Trev!)
Do you think you know the answer? Simply 'Like' this post and we'll post the answer in the comments below at 2pm on the day!
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