George Osborne has dismissed claims that his Budget was aimed at the "grey vote" following headline measure that appealed directly to pensioners.
In an interview on Daybreak, the chancellor said measures for savers are for people of all ages "thinking about their future".
The pension changes announced in the Budget yesterday are a risk and based on "highly uncertain assumptions", according to a think tank.
Critics warn the major changes to retirement savings could leave pensioners short if they don't make the right decisions.
The annuity provider welcomed the Chancellor's pensions changes despite the firm's share price dropping 8% after the Budget announcement.