KiwiSaver providers are urging savers not to panic after a week of turmoil in share markets around the globe.

Markets including New Zealand's stock exchange have fallen on the back of concerns about a slow-down in China's growth and dramatic plunges in its stock exchange.

John Body, managing director at ANZ Wealth, the country's largest KiwiSaver provider said it had only received a handful of calls from its members worried about the market turbulence and its affect on their retirement investment funds.

But it was taking the opportunity to remind people that investment volatility was part of investing and did not have to be the cause for panic.

The lesson of the last few years is not to panic during market corrections.

"We believe that our members should keep a disciplined and patient approach to their investments based on their own long term plans for their investments rather than
reacting to short term changes in the market.


"It is the long term trend that matters when saving for your retirement."

Body said ANZ would be closely monitoring the situation and adjusting KiwiSaver portfolios based on its views.

"We will continue to maintain a vigilant focus on quality assets that provide liquidity and diversification."

Therese Singleton, general manager, investments and insurance at AMP said it was maintaining a close watching brief on the markets.

"We have received only a handful of calls from customers just wanting to understand what the current situation means for them.

"We are reminding customers that saving through managed funds such as KiwiSaver are long term investments and that market corrections happen every couple of years.

"The lesson of the last few years is not to panic during market corrections."

David Boyle, head of investor education at the Commission for Financial Capability said it was likely that people who had checked their KiwiSaver balance online in the last few days will have seen it go down as a result of the falling global share markets.

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Boyle cautioned against taking any knee-jerk action.

"Sit down and take a breath. Then take some time to think about what the money is for and ask do I need it today?"

Boyle said for most people retirement would still be a long way off.

For anyone still worried he recommended calling their KiwiSaver provider and asking them to explain what is going on, talking through what kind of fund they are in and whether it is appropriate for them.

"If you still want more information getting some independent advice would really good too. Getting advice is about helping to manage through these periods of time."