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If you receive a distribution from a retirement savings scheme before you retire, you may need to include it as part of your income for Working for Families and student loans.

When you need to include income from a retirement savings scheme

You need to adjust your income If your retirement savings scheme makes a distribution and both of the following apply:

  • the contributions to the scheme had retirement scheme contribution tax (RSCT) withheld
  • at the time you received the distribution you were not eligible for NZ Superannuation.

You do not need to include any distribution of contributions that you have made.


Te Rūnanga o Ngāi Tahu makes contributions to John's retirement savings scheme account of $1,200 (before deducting RSCT) for the year.

Te Rūnanga makes a distribution to John of $1,200. John has not yet retired or become eligible for NZ Super.

He needs to include the $1,200 as part of his income for Working for Families and student loans.