The changes announced by George Osborne mean a retiree can draw out their entire pension pot in one go, should they wish to.
Some industry figures have raised concerns that instead of the money lasting throughout a pensioner's retirement, the funds could be used up too quickly.
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Speaking on BBC radio this morning, Mr Webb was confronted with the possibility that the changes will result in "emotional blackmail" from family members who want their retired parents to bail them out of financial trouble.
One listener who called into the show said she was concerned that with access to more money sooner there will be pressure on retirees to spend it on items such as their children's student loans or weddings matters rather than ensuring they have enough money to look after themselves for the rest of their lives.
She told Mr Webb: "I can foresee pension pot becoming source of pressure in the family."
Mr Webb: " You can take a quarter of your pension as a tax free lump sum already and I don't think it's the business of the Government to interfere with families.
"We are simply treating people as adults and they can make their own choices.
"We are absolutely committed to the principle that we will allow people freedom, ,it's your money to do with what you want."