Aegon believes it must include a "digital delivery option" to meet the needs of savers and providers with the capability to do this should be encouraged to follow this route.
Intelligent Pensions has said face to face guidance is not practical and suggested a service via the internet, perhaps using a program like Skype would be a better option.
David Macmillan, managing director of Aegon UK, said there must be a digital delivery option that allows people to input their financial position and then generates standard outcomes depending on their position and attitude to important factors such as risk.{desktop}{/desktop}{mobile}{/mobile}
Mr Macmillan said it was important to "embrace technology that can deliver a meaningful service" and which "helps people enjoy retirement the way they want to".
He said: "A digital service that provides users with standardised outcomes based on the information they input as often as they like would, in our view be more useful than a one off face to face engagement.
"There is a growing trend towards a phased retirement whereby individuals move into part time work and may need to start drawing on some savings before they move fully into retirement.
"A digital service would allow them to consider their options at different times in the run up to retirement and would not rule out the option of financial advice for complex decisions.
"Two weeks ago Martin Wheatley, announced that FCA was planning to consult on the potential of automated regulated financial advice.
"If advice, which is more detailed and complex, can be offered digitally then we see no reason why the Guidance Guarantee cannot be offered digitally, providing greater convenience to users and allowing them to dip in and out."
Intelligent Pensions, the specialist pension and retirement advisers, have responded to the Government's consultation which closed this week.
The company told Ministers: "We do not think 'face to face' guidance is practical and would suggest that this be changed to 'one to one' guidance which can be delivered via a telephone call or via an internet connection, such as using Skype."
Steve Patterson, managing director of Intelligent Pensions, said: "The guidance guarantee needs to be very carefully thought through, it needs more than just words and advisers are far better placed to explain the issues and consequences.
"Technology and robust cash flow modelling makes it much easier to do this and allows those approaching retirement to see into the future.
"It's like satellite navigation in cars and we've all seen how much that helps on a long and uncertain journey."