Concerns have been raised over plans to let firms take profits from pension funds used by around nine million Brits.
Proposed changes to 'defined benefit' schemes would mean that 'surplus' cash can be extracted for profit or re-investment.
The government argues the move will free up £11.2billion over the next decade that would be partly shared with members.
It would also provide a £.28billion windfall for the Treasury, as the drawdown would be taxable.
However, the impact assessment for the Pensions Bill acknowledged that the overhaul removes a 'cushion' and might make it more likely schemes will 'struggle'.
