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Mr Aitken said attention must be paid to the service offered by individual group Sipps providers when choosing a scheme as he was not wholly convinced that all entrants into the market were committed.

He said: "Group Sipps are emerging as the logical destination for pensions contributions from maturing ShareSave arrangements. However there is currently only a handful of credible group Sip providers and they offer markedly different services with highly varied fees and fee structures."

Mr Aitken added that brand was not necessarily an indication and an examination of the small-print was essential.

He said: "It is worth bearing in mind the group Sipp market is very immature and is only just approaching its second year. We expect to see more innovation but not taking care now may leave someone with a poorly performing and expensive product."

Fergus Lyons, commercial director for A J Bell Group, said group Sipps had been around in various forms for years however he agreed people should take care to differentiate between providers.

He said: "The Group Sipp market is still in its infancy and there is still debate about the level at which it becomes viable for each individual Sipp member, form a cost perspective.

"Advisers need to be very cautious to ensure the extra cost does not outweigh the extra benefit of the Sipp, and that they do not simply try to shoe horn clients into an in appropriate and high charging Sipp arrangement"