Pension risk level at 37

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My pension is currently invested at risk level 4 out of a max of 7 (Aviva) which is described as medium risk.

It’s a good size pot (£212k) and I’m not currently contributing to it as was with my previous employer (I have a new one with current employer). I’m 37 and would like
to retire at about 62 so have a good 25 years before I intend to use it.

Should I increase the risk level to say 5 or 6?

What level of risk do others in my situation have?

I am having the same argument with myself at the moment too.. I'm 36 and also with aviva with my current employer. The default fund is risk level 4 which is quite risk adverse and I think a higher level is better for my age.
I have another pot with another provider (towers Watson) in their higher risk default fund (I don't think aviva has this as an option however) and it's done lots better recently.
I have the same total pot as you, £214k at last count!

Interested to hear other thoughts.

I'm 37 and mine is medium risk.
I'm happy with that

Yes, higher risk.

You can derisk it as you approach retirement.

Standard advice would be higher risk at your stage of life.

Thank you! So I should perhaps switch to risk level 5 or 6 (of 7)? That was what I thought.

I need to check how my current one is invested too. And presumably it would be worthwhile consolidating them at some point?

Perhaps controversial but I would get it out of aviva and into a sipp and manage it myself.
I would definitely go higher risk if I could choose that higher risk which usually doesn't mean investing in strange companies sually means more stocks and less bonds

To understand risk stuff if you don't know look at vanguard life stragety funds.. 100 %equity, 20 bonds /80 equity at. And so on the idea is when your young and have decades before retirement you have 100 equities and as you near retirement you change to more bonds.
However in vanguard I know 100% equity means baskets and baskets of 100s funds which I don't consider risky at all..
I don't know what that means for aviva. @Hungrycaterpillarsmummy you should def be higher risk at your sge your missing out on money

Thanks @MiserableMarch Ive been considering that myself. I’m not an experienced investor but jt should be within my capabilities to learn. I will look into it. I’ve always saved a lot into my pension and want to make it work as hard for me as I possibly can.

I was almost forced to learn myself a few years ago due to circumstances. I am not mathematical and was almost crying over it.
I started learning about the vanguard model first. That gave me good understanding of the basics then I read the classic, simple path to wealth jl colins, and listened to podcasts eg meaningful money. There is a meaningful money fb group and people ask about pensions all the time. Now I know what I kmow id be more nervous having it in others hand.