Resolution rivals Pearl and Standard Life were told today: Make a firm offer by 5pm on 25 October or walk away.
Standard Life and Swiss Re are reportedly closing in on a 750p a share joint offer for Resolution.
The Government's decision to stop the progress of hybrid annuity products "lacks foresight", says Standard Life.
Resolution and Friends Provident have released the final merger details to the stock exchange this morning, paving the way for a counter move from Pearl and Standard Life.
Employer contributions to personal pensions have grown faster than payments made to occupational schemes over the last five years, according to figures from Her Majesty's Revenue and Customs (HMRC).
Standard Life has added the PSigma Income fund to its mutual funds platform, FundZone.
Standard Life has called on the Government to confirm IFAs can ignore the FSA's conduct of business rules and their clients' circumstances when making pension recommendations.
Resolution says it has not taken its eyes off a merger with Friends Provident despite confirming it has received interest in the firm from Standard Life and Pearl Assurance.
Standard Life has confirmed it is considering a cash and shares offer for Resolution.
Standard Life has announced its new European Equity Ethical fund will be open to investors on 24 September.