Lord McFall's pension saving committee risks becoming redundant because the pension system is already on its way to being fixed, Tom McPhail says.
McFall's Workplace Retirement Income Commission is looking at ways to solve the UK's complex system and make people save more for retirement - but researchers at Hargreaves Lansdown said the government is already close to a fix.
Head of pensions research McPhail said: "I have some sympathy with McFall's position - I just think he's a little out of date.
"The government has gone a long way towards creating a framework that will serve investors well for the future. Above and beyond the much anticipated reform of the basic state pension, most of the elements of the system are either already fixed or the fixes are now in train."
Government is set to introduce a raft of reforms this year aimed at improving workplace savings, including scrapping compulsory annuity purchase, improving shopping around at retirement, removing the default retirement age, and encouraging alternative workplace savings vehicles.
McFall's inquiry - which is backed by the National Association of Pension Funds - will deliver its own set of solutions later in the year.
The former Treasury Select Committee chair hit out at the complexity of the "toxic" UK pension system at the recent NAPF Investment Conference, saying it favours providers over savers.
McPhail said he took issue with McFall's description.
He said: "I do not recognise at all his description of a complex and toxic system. The system is well on its way to being a simple functioning system that will serve consumers well."
