The new pensions bill should aim to promote more savings but the government has not made it clear how this will happen, an industry expert says.
Maggie Craig, director of life and savings at the Association of British Insurers said that she supported personal accounts as far as they did not affect existing pension provision.
Employers should be exempted from running personal accounts, she suggested.
"There remains a risk of damage to existing provision if employers with good workplace schemes are not exempted from needing to run personal accounts, and therefore choose to level down contributions," she said.
Chris Cummings, director of the Association of Independent Financial Advisers (Aifa) echoed Ms Craig's misgivings.
He said while the organisation generally welcomed the new bill and the introduction of personal accounts, there were some concerns over means testing and lack of access to advice for employers and employees.
Aifa would continue to lobby government to protect consumers saving in personal accounts and in existing pensions schemes, he added.
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