Standard Life was somewhat more reserved than its rivals in its opinion and said third parties ‘may’ provide the service instead of providers.
Jamie Jenkins, head of workplace strategy at Standard Life, said there was a consensus that the service would be provided by a combination of parties, including the Money Advice Service and the Pensions Advisory Service.
He also said: ‘The key here is that we first define what the guidance actually is. If it is a one-off event, probably a telephone conversation for most, then it may well be a third party, with providers in the first instance directing people to them.
'However, it should complement, not replace, the existing services offered to members by advisers, providers, trustees and employers in engaging people in the lead up to retirement and in many cases, beyond.’