Sipp provider Xafinity wants legislation developed to allow Sipps and SSASs to invest in the conversion of retail properties for residential usage.
It believes one in eight empty shops on the High Street could be redeveloped if Sipps were allowed to purchase them for conversion purposes.
Under existing regulations, pensions cannot directly invest in any property with ongoing residential use.
This was a topic mentioned in March's Budget when it was said that the Government would explore the idea of converting unused commercial properties for residential use.
In the Treasury Budget papers, it was written: "The Government will explore with interested parties whether the conversion of unused space in commercial properties in high streets and town centres to residential use could be encouraged by amending Investment Regulated Pension Schemes rules. Any amendments would need to be consistent with sound public finances and the Government's wider pension strategy." 
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Xafinity feels high streets should become "areas of mixed-use property" which would create more affordable housing and reduce crime.
Andy Bowsher, director of Sipps at Xafinity, said: "UK high streets need investment support and a new usage strategy to survive.
"Retail properties may not be seen as good investment opportunities and existing owners are unlikely to receive financial support to develop them- a catch 22 situation.
"Property Sipp and SSASs could be an excellent way to bring investment to the high street but the legislation must change to allow pension scheme members to invest more widely in residential property."