The rest can usually either be used to buy an annuity (an income for life that will depend on your age, the value of your pension fund, and annuity rates payable at the time) or to provide an income via what is known as 'drawdown'.

BBC: Fergus Muirhead

Real estate offered a golden opportunity, according to the European Renaissance Fund, not because it would rise in value any time soon, but rather because "a lot of existing portfolios will be offloaded by distressed investors".

BBC: Davos Man eyes investment opportunities