moving more to cash

My wife and I are both drawing pensions from our fund and have been doing so for the last 12 months or so. The strategy to date has been to have most of the fund in fully franked, good dividend Australian stocks.This has served us well over the last few years.

As we are now drawing pensions and with the US market at record highs, I have been moving more into fixed interest. My strategy now is to continue to move more into cash as the the ASX200 approaches 6,000 towards the end of 2014.

At the moment the fund is about 25% cash.

I would appreciate thoughts on this strategy.