I am a believer in diversification. After age 55 or during retirement, cash needs to be plan properly. You need cash for monthly expenses, sudden emergencies such as major car breakdown, kid’s wedding, house renovation, or major repairs.
Diversify your retirement fund into a few places. My recommendation is:
8-10%: for usage in a year (daily commitment)
20% : Property or ASB/ ASW
20%: Principal funds or mutual funds (with diversified portfolio equity, balance, sukuk)
50%: remain in EPF account