My intention is to stay in equities when I retire (with my SIPP) but have a cash buffer so I can draw on that, instead of selling when markets are bad. The bulk of my investments are in standard Vanguard ETFs, not the targetted retirement funds or lifestyle strategy funds.
I’m currently slowly building up on that cash by leaving the tax relief/reclaim univested while I continue to invest the actual cash I put in.
Sadly this cash won’t attract any interest with Freetrade’s SIPP but I’m ok with that.