Millions of British workers could lose as much as £163,000 in potential retirement savings because of an investment strategy that automatically shifts pension funds into lower‑growth assets before retirement, financial experts have warned. The strategy, known as “lifestyling”, typically moves pension investments out of equities and into bonds and cash as a saver approaches retirement. However, since the introduction of pension freedoms in 2015, many savers now remain invested for decades after they stop working. ‘Outdated’ pension strategy could cost workers £163,000 in lost retirement growth | GETTYMurphy Wealth said the projections highlight the potential impact of reducing investment risk for savers who may not need to access their entire pension pot at retirement. The debate over lifestyling comes as pension savers increasingly have to consider how their investments should be managed both before and after retirement, particularly where they intend to use drawdown.