The Citizens Advice Bureau has replaced the Money Advice Service as one of the two partners to deliver the pensions guidance guarantee.

The Investment Management Association fears some of the firms that may end up coughing up to fund the Government's new retirement guidance service will be ones that don't actually benefit from it.

The new guidance service could "damage" and "undermine" Financial Planners and turn consumers away from professional advice, a Conservative MP has warned the Government.

The inclusion of The Money Advice Service as a key player in delivering the pensions guidance guarantee has been criticised by the chairman of an influential group of MPs.