Almost half of advisers have reported a shift in client money away from traditional pension saving to alternative products, a YouGov poll has found.
The survey showed 47% of advisers had seen clients diversify retirement saving away from just traditional pension plans in favour of ISAs, bank and building society accounts, premium bonds and equity investments.
It also found 69% of IFAs do not think their clients are saving enough for retirement - whatever vehicle they are using.
Adele Gritten, financial services director of YouGov said: "For most people, funding retirement is going to take a variety of approaches. The fact that IFAs believe 69% of us are not saving enough and 45% of consumers are not topping up their savings in addition to a pension is potentially a financial time-bomb."
The poll also showed savers are confused about how much they will need to save for a comfortable retirement - 51% had no set target for their pension pot, while about a quarter were aiming for £100,000 or more. Just 13% of people intend to rely wholly on the state pension.
The majority of financial advisers (85%) believe the number of self-invested personal pension (SIPP) providers will continue to fall in the coming year, according to Dentons Pension Management research.
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