Artificial Intelligence (AI) and Pensions

We always try to make the information in our correspondence and on this website as simple and accessible as possible, but we do appreciate there is a level of complexity with everything surrounding pensions.

 

With that in mind, you might think it is a good idea to use AI tools to help you understand your pension – but we’d like to alert you to some important risks you should consider.

 

 

If an AI tool gives you misleading information which you rely on and subsequently suffer a loss, it’s very unlikely that you’ll receive any compensation from the AI provider.

 

We cannot accept any liability for a member’s loss caused because of members’ misuse of AI. We also recommend that you do not rely solely on AI to make decisions in respect of your pension with the Fund.

 

Another common risk with using public AI tools is that your private and confidential data could be shared accidentally or illegally. For example, uploading a document with your pension details into an AI tool is not recommended. Your sensitive information on that document could potentially be ‘learnt’ by the AI tool and be provided to other individuals in the future or be readily accessible outside UK jurisdiction.

 

• Check the sources used to compile any response
• Do not enter your personal data into any publicly available AI tools.