KiwiSaver is a voluntary savings scheme in New Zealand designed to help individuals save for retirement. It allows participants to contribute a portion of their income, which is then matched by their employer and the government, depending on the contribution rate. The funds are invested in various assets, aiming to grow over time. Participants can access their savings for specific purposes, such as buying their first home or in cases of significant financial hardship. KiwiSaver accounts are managed by different providers, giving individuals the flexibility to choose how their money is invested.