Quantum Advisory's Stuart Price has criticised suggestions that the richest 5% to 10% of retirees should be cut off from the state pension.
His comments came after the Organisation for Economic Cooperation and Development (OECD) recently said the state pension should not be available to the rich, and instead be used to boost payments for the poor.
Price, who is partner and actuary at the firm, argued that although freeing up wealth to go to the poorer part of the population is a good idea in principle, it could confuse the current system and put people off saving for their retirement.
He said: "The government would need a specific set of requirements for those who are excluded."
Price also thought it could cause confusion and uncertainty, and argued there are better ways to redistribute wealth.
He said: "We could look at taxes for example, rather than an upheaval of the pensions system."
The OECD's deputy director of employment, labour and social affairs Mark Pearson told the Financial Times that the UK is under pressure as claims on the state pension continue to grow, while the number of people working has fallen.
The current model is not means-tested, enabling anyone who has paid 35 years of National Insurance contributions to access the full state pension, no matter what they earn.
A means-testing system would likely be costly and difficult to implement.
It comes as sustainability of the state pension is increasingly coming under question, with many political parties taking a stance ahead of the 8 June general election.
Both Labour and the Liberal Democrats have pledged to keep the triple lock, which was introduced in 2010 by the Conservative-Liberal Democrat coalition government.
The Tories have yet to say whether they will keep the triple lock if they win the election.
The Pension Schemes Bill has completed its third reading, crossing its latest hurdle in the House of Commons.
An amendment to the Pensions Schemes Bill which would have seen people given a pre-booked Pension Wise appointment ahead of accessing their retirement savings has been defeated.
A proposal to ensure savers receive a Pension Wise appointment prior to accessing their retirement pot has received cross-party support in parliament, while Labour seeks net-zero pensions by 2050.
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Trustees must know the signs of sponsor distress and be prepared to act quickly as the “first line of defence” for savers, The Pensions Regulator (TPR) has warned.