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The bear market has sent KiwiSaver balances backwards, leaving savers worried about what to do with their investment.
The amount of money invested in KiwiSaver fell by $1.536 billion to $87.3b in the March quarter as markets around the world plunged
in response to the war in Ukraine and fears of rising interest rates.
And markets have continued to plunge since then, with the US Federal Reserve moving to hike its cash rate by 75 basis points, and many central banks around the world - including the Reserve Bank of New Zealand - lifting the official cash rate in a bid to tackle raging inflation.
That has seen savers in conservative funds hit by the double whammy of falling shares and bonds prices.