i carry out a water change every week of around 15%, 1 reason is with the filters i own while flushing, back washing, purging the bottom drain and purging the vortex {just pond maintenance} it takes out that amount of water, also i dont have any pond plants no shelf's just straight sides, and as with koi when they feel closed in they release a chemical into the water and they stop growing, so by doing water changes im diluting toxins and removing the anti growth chemical when i replace the water i use water filters not just tap water ie chlorine which can harm the koi,s gills but this year im employing the continuous drip in drip out method, i feel that regular water changes are very beneficial for the fish as there are only so many times you can filter bad water and make it good, BUT as meyer said and this is a very important point, and i also realise that not every pond has the correct filters, the right size pumps the plant life and so on and so on, if your pond is well balanced then water changes may not be needed. you do what you believe is right for your pond, my pond is probably completely different to many mine has straight walls down to 6ft in depth no plants mine is a pure koi pond built for one purpose no wild life completely sterile, in many peoples eyes boring but as i said its all to keep the fish in perfect show condition i repeat show condition so my filters are the only thing and uv that keeps my water clean thats why I do water changes.