The Chartered Institute of Taxation has warned the Government that its stakeholder pensions proposals are littered with taxation traps.
It says that if stakeholder pensions are to be truly successful and accessible to all, further changes will be necessary.
The institute says the Government's proposal to open up pensions to those not in work, could in practice mean that by contributing they are in fact volunteering their savings to be taxed.
The CIOT says that if the Government wants to encourage people to take up stakeholder, instead of investing in shorter term savings vehicles, it must guarantee them they will not suffer from changes in taxation.
The institute claims that further work is needed to protect the pensions of the self-employed and people relying on annuities and occupational schemes.
It says part of the answer would be to restrict the requirement to buy an annuity to an amount equal to the minimum income guarantee. It also believes pension stamps should be introduced to encourage lower rates of contributions.
CIOT personal taxes sub-committee chairman Anne Redston says: "We welcome the opening up of pensions to those who are not in work. But we must point out that by contributing to a pension under the proposed rules these individuals will, in practice be volunteering to have their capital taxed."