People aged 50 and above are turning to Sipps in their droves following the overhaul in the pensions system, according to Liberty Sipp.
The firm has published figures showing a large number of clients switching their retirement savings into a Sipp since George Osborne's groundbreaking Budget reforms in March.
The overall statistics showed a marked spike in applications from those in their 50s, with this age bracket alone now accounting for a third (33.7%) of all the firm's new clients (with those aged 55 alone making up 5% of the total).
In previous years demand was spread more evenly across all age groups, with 40-somethings making up the largest group of applicants.
The data showed that the average age of applicants jumped by four years to 52, compared to the same period in both 2013 and 2012.
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From April to June 2014, the average age of new Liberty Sipp customers was 52.4, compared to 48.5 in the second quarter of 2013 and 48.4 in Q2 2012.
A third of all applications in Q2 2014 were from those aged 50 or over.
John Fox, managing director of Liberty Sipp, said: "In the seven years between the launch of Liberty Sipp and this spring, the age profile of our customers barely changed.
"So for it to have shifted so dramatically in the immediate aftermath of the Budget can be no coincidence.
"The radical changes announced by the Chancellor have rightly been described as a pensions "revolution" and it appears that Britain's 50-somethings are making the most of the reforms.
"They have most to gain from the new rules on pensions, which, from next April, will allow anyone over 55 to spend their pension how they want."
Mr Fox said the firm's research suggested some retirees will treat themselves under the new regime and a clear majority will take a flexible approach to funding their retirement – leaving some of the money invested and experimenting with drawdown.
He added: "Sipps are the most flexible form of pension, and the surge in demand from those approaching, or at, the 55 mark shows that many people plan to make full use of their newfound freedoms."