Investment in equity is always subject to the market risk! However, under normal market conditions, equity is one of the assets to offer best returns. The damage done by Covid-19 was unprecedented and the world wasn't prepared. So people are trapped and they are not getting the value they had expected out of the pension fund. However, the alternate approach suggest as "Robust Finance" is also not much different than the conventional approach other than the inclusion of property and cryptocurrency.

History shows that, when there is a financial crisis, cyrptos and properties are also impacted, probably little less but impacted! Actually the entire system is designed in a way, you can't completely go out of it. Probably you can reduce the risk to some degrees, but not completely! Addition of cryptos in a portfolio is always welcome, but the volatility is indeed a pain area!