Andrew Curtis, senior financial planner for the financial planning firm, said that worries about high pension savings were no longer relevant only to the very wealthy. Changes to the lifetime allowance will effect the maximum amount of pension saving for tax relief.
He pointed out that the reduction in the allowance from £1.5m to £1.25m could affect many public or private sector workers with defined benefit pension schemes.
Mr Curtis said clients whose pensions savings will breach the new limit can take action to help protect themselves.
He added: “If you do not already have an existing protection, you can apply to HM Revenue & Customs to protect your allowance at the 2013/2014 level of £1.5m.
“Of course there will be conditions. You cannot make any subsequent pension contributions, including under auto-enrolment from which you will have to opt out.”
David Crozier of Northern Ireland-based Navigator Financial Planning agreed with the calls to take advice as soon as possible. He said: “There is no doubt that it is urgent for people to address this as it brings more people into the net. For instance doctors, dentists and senior civil servants.”