Winterizing your pond plants begins in the fall with pruning and general maintanence. Make sure to prune yellowing leaves, stop fertilizing plants when the weather cools, keep up with falling leaves, and cut back plants as they die off. If you live in a temperate climate with no hard freezes, less preparations are necessary.
Winter hardy plants will survive the cold months and return to full bloom once things warm back up. Perennials will die away and then be reborn in the spring. Other plants, like annuals, will die completely and need to be replanted after winter passes. It's more economical to choose hardy plants. This means less work for you when it comes to removing dead plants and replanting them in the spring, as well as saves you money as you no longer need to replant greenery after the winter is over.