I think I mostly already am at my target allocation (for the taxable assets), which is about 3/4 the stock picked portfolio, 1/8 ex US equity (VXUS) and the rest in bonds (BND, BNDX, VDET).
The allocation doesn’t have some big return theory behind it, it’s just what I feel comfortable with and what produces the cash flow that I need as income.
For dividend (growth) stocks I try to pick those that reliably pay, and ideally keep raising their dividend. I’ve linked to my picks in this post. The topic of said post also discusses how I (and others) arrive at potential picks.
I haven’t run the numbers to compare to pension return, but I would accept a lower return on my portfolio in order to pass on an inheritance. As it stands today, the (entire taxable) portfolio returns 4.3%. When I’m eligible to withdraw capital from pillar 2 (or the Freizügigkeitsstiftungen), I’ll aim at investing with an initial 3% return, most likely into the stock picked portion of the portfolio.
I don’t know how to compare to AHV, as regardless of what I paid in I’ll get a mostly fixed amount out starting 2033.
Full retirement is hopefully earlier than 2033 … I’m reducing from 50% to 10% starting next year (tomorrow!), and depending on how comfortable I’ll feel with this setup I might dump the remaining 10% in a couple of years as well.