Over one in eight of the working population are saving more into their pension pots as a direct result of the introduction of Freedom and Choice, Aegon has found.
Around 5.5 million people - or 14% of the population - are estimated to have ramped up pension contributions since the freedoms were introduced two years ago, with pots now averaging around £50,000, compared to £29,000 at the time.
People are also becoming "more realistic" about the income they would like in retirement, with an average figure of £32,000, down from £41,000 in April 2015.
The conclusions, which come ahead of the second anniversary of Freedom and Choice on 6 April, are drawn from a survey of 2,004 people - conducted by Censuswide on behalf of Aegon - in December last year.
Aegon pensions director Steven Cameron said the figures showed more people were engaged in pensions.
"The 2015 pension reforms put many more retirees in the driver's seat for the first time," he said. "Two years on and all the signs point to the pension freedoms having paved the way for a smoother road to retirement.
"People have moved up a gear, saving more and becoming more engaged with their pensions. Crucially, the proportion of people speaking to an adviser about their retirement saving and income options is almost double what it was in April 2016."
The survey also revealed more people have now taken steps to review their retirement plans at just under two-thirds (64%), down from 50% in April 2015.
Of those who said they had never engaged with their pension savings, 22% said they did not understand how to review retirement plans, 15% blamed a lack of online services or information, and 12% feared seeing how small their pot might be.
"There's still a long way to go," Cameron continued. "People will need to accelerate their saving to reach their retirement destination and make the UK a nation of long-term savers.
"Over a third of the adult population have never taken any action that affects their plans for retirement and these people must be encouraged to engage and save more, or face a very uncertain future. Auto-enrolment does mean many more people have a workplace pension without taking personal action, but default contributions will only go so far."
Last month, the Treasury revealed that withdrawals from pension pots as a result of Freedom and Choice had landed it with a £1.7bn tax windfall.
The cash boost came HM Revenue and Customs figures showed £9.2bn had been withdrawn since the freedoms were first introduced in 2015.
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