I recall a while back in my super & retirement income investment days. There was some analysis completed around whether it was better for retirees to invest aggressively rather than putting aside a couple of years in cash during the pension draw down phase. At that time, it was determined over the long term it was financially better to invest in more aggressive assets rather than allocating a portion of the funds in cash. Assumption is pension payments are drawn down based on the asset fund allocate breakdown. Whether that's still the case these days is to be seen but a useful exercise to do again. GFC certainly changed the climate in this respect.
