When you have a long time to go to retirement it makes sense to at least consider investing in funds with a high equity content and maybe diversifying into other high risk/reward asset classes..... Your pension should be a very long term investment and, as such - in my opinion, you should largely forget about timing the market and changing investment strategy based on short term market conditions. Timing the market in general is a mug's game.
Since you admit to being unaware of how these things work you should probably consider getting independent, professional advice.