Pension savers increasingly rely on AI for retirement planning

AI is becoming a preferred tool for those beginning their retirement planning. Data on searches and website traffic suggests AI is meeting early-stage needs for pension guidance.

Platforms offering general financial information, such as MoneyHelper, have seen traffic fall by 10% over the past six months. At the same time, AI-generated overviews of pension content are on the rise.

AI tools are mainly used to sense-check retirement decisions, model ‘what-if’ scenarios, simplify pension jargon, and assist with tax planning. Users view AI as a thinking partner rather than a replacement for regulated advice.

Despite the rise of AI, bespoke advisory services, such as Pension Wise, have remained relevant, providing personalised guidance that AI cannot fully replace. PensionBee highlights that AI is helpful for basic guidance, but services remain essential for more complex planning.

Experts warn that the retirement sector faces a challenge in maintaining trust and relevance as AI continues to improve. Savers increasingly rely on technology for guidance, signalling a shift in how pensions are researched and managed.

Would you like to learn more about AI, tech, and digital diplomacy? If so, ask our Diplo chatbot!