David Cameron believes "it is right to give people greater choice" when it comes to their retirement, the Prime Minister's official spokesman said.
He told a Westminster media briefing: "These are people who have been saving for many years in defined contribution schemes and we trust them in the decisions they make.
"It's not for me to give advice. It is about ensuring that good advice is available to everyone."
More top news
Younger workers are missing out on pay rises, with people born in the 1980s earning £40 a week less than those 10 years older, studies show.
Four in 10 European doctors are considering leaving the UK following Britain's vote to leave the EU, research suggests.
Eating 10 portions of fruit and veg every day could could significantly reduce the risk of heart disease and cancer, researchers say.