Broadstone has raised the question of what these workers will do after George Osborne said the 55% tax will be scrapped from April.
Around 320,000 people who retire each year with defined contribution pension savings will no longer be hit by the charge and can pass on their funds to any nominated beneficiary when they die, according to the Treasury.
Simon Nicol, pension director at Broadstone, said: "Members of generous final salary pension schemes approaching retirement now face a massive dilemma.
"Do they stay in their final salary scheme and enjoy their secure pension for life, but deny their children and grandchildren any benefit should they die earlier in retirement?
"Or do they transfer into a defined contribution pension savings account, which could provide their extended family with huge financial benefit – but which could leave them short of income if they live too long?"

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A Treasury statement today read: "From next year, individuals with a drawdown arrangement or with uncrystallised pension funds will be able to nominate a beneficiary to pass their pension to if they die.
"If the individual dies before they reach the age of 75, they will be able to give their remaining defined contribution pension to anyone as a lump sum completely tax free, if it is in a drawdown account or uncrystallised.
"The person receiving the pension will pay no tax on the money they withdraw from that pension, whether it is taken as a single lump sum, or accessed through drawdown.
"Anyone who dies with a drawdown arrangement or with uncrystallised pension funds at or over the age of 75 will also be able to nominate a beneficiary to pass their pension to.
"The nominated beneficiary will be able to access the pension funds flexibly, at any age, and pay tax at their marginal rate of income tax."
There will be no restrictions on how much of the pension fund the beneficiary can withdraw at any one time.
Julie Hutchison, head of customer affairs at Standard Life, welcomed the move, saying it meant pensions have become "truly effective" for income and inheritance tax planning.
She said: "It creates a genuine incentive to save, knowing your loved ones can benefit too, helping older family members support younger generations who find it harder to save.
"Our research shows that being able to leave pension funds for your loved ones is a priority for people in the UK.
"Back in May, we called for the flat rate 55% death benefit tax to be reduced and replaced with a rate that was fairer and linked to someone's overall wealth.
"We're delighted that the new proposals take this differentiated approach, which takes account of the wealth of the individual rather than a one size fits all tax policy."