Majority of pension professionals see AI as part of member engagement solution, poll finds

More than four in five pension professionals believe artificial intelligence (AI) could play a role in improving member engagement and retirement decision-making, according to polling conducted by the Society of Pension Professionals (SPP).

The findings were shared during an SPP webinar examining how the pensions industry can encourage scheme members to better understand retirement options and make informed decisions.

More than 150 pension professionals attended the event, which focused on improving retirement decision-making ahead of the introduction of Default Pension Benefit Solutions and Targeted Support.

According to the polling, 19% of respondents said AI would become “a core part of the solution” to closing the member engagement gap, while an equal proportion said they did not believe AI would help.

However, the majority of attendees, 62%, said AI could form part of the solution provided risks are managed appropriately.

Attendees were also asked which changes could have the biggest impact on improving retirement decisions among pension scheme members.

More than a third of respondents identified simplified choices and communications as the most important factor, while 24% highlighted the value of earlier and more frequent engagement with savers.

One in five respondents said more personalised guidance would have the greatest impact, while 13% pointed to lower-cost advice solutions.