The Financial Regulator has issued a statement concerning equity SSIAs following a spate of calls from holders who are anxious about the impact of recent stock market volatility.
The regulator has called on holders to inform themselves of the options before the contracts mature.
Consumer director Mary O'Dea said: "Many callers to our helpline have seen the current value of their SSIAs fall by hundreds and in some cases, a few thousand euro."
Ms O'Dea said: "This is obviously worrying for people, particularly those whose accounts mature within the coming weeks.
"People who are worried should talk to their SSIA provider, find out how their investment is performing and see what options they may have at this point," she added.
She urged holders to look at the bigger picture and examine how the fund has performed since the start, instead of just looking at the losses of the past few weeks.
Ms O'Dea outlined a number of measures open to holders, including switching into a less risky fund, such as a cash fund where there is no capital risk.
But she warned this would remove any opportunity to make good any current losses or to benefit from any future stock market growth were the market to recover.
Rather than move their SSIA out of equities, some savers may also have the option to let their policy run beyond the SSIA maturity date, she said.
