Consumers in Briton have been advised to make sufficient pension provisions in order to enjoy a comfortable retirement.
Killik & Co argued the value of the state pension has been eroded in recent decades, while Britain is also seeing the end of generous final salary pension schemes from employers.
The independent partnership also noted the recent difficulties in the property market, which may lead those previously considering investments in a second home to look more closely at pensions.
Malcolm Cuthbert, managing director of financial planning at the company, said: "It's more important than ever before that people take responsibility for themselves."
He added it would be "just crazy" for individuals to imagine the problems of a diminishing state pension and end of final salary schemes would go away in time.
A recent report from the firm found half of the people who have a pension do not check its performance, while 78 per cent of people do not have any type of pension strategy.
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