AI's real promise?: better member outcomes

They are some of the biggest questions facing our industry and policymakers alike: how can we help more people engage with their pensions, save enough for the retirement they want, and manage their money effectively when they get there? 

Yet millions still save too little, engage too late and struggle to make important retirement decisions. 

With pension adequacy remaining such a critical challenge, could AI and new digital technologies give members support so that they improve their retirement outcomes? 

These themes were at the heart of our Future Forum in London in July, where trustees, employee benefit consultants, advisers and other industry professionals came together to discuss what technological change means for pension members outcomes, now and in the future.

What impact is AI having?

AI is already having a far-reaching impact with a huge number of people using it in their everyday lives including asking for financial information. In 2025, Lloyds Banking Group estimated that 28 million people in the UK were using it to manage their money - and it’s grown since then. 

But AI promises so much more and it’s already being used to great effect in some new and perhaps unexpected ways. It’s being embedded into operational processes to transform service delivery, for example when members call to discuss their pension. 

We’re using Genesys AI when members call us about their pension, automating what was previously a highly manual process. The AI captures call notes in real time, allowing call handlers to focus their full attention on the conversation itself. It also helps wrap up calls with clear records of the discussion and agreed outcomes. 

This can save around four minutes per call. Across the more than 2,000 calls a day we take (an average for us) that creates significant operational capacity.  

But the real opportunity is not about saving time – that’s not the aim. It’s about removing administrative burdens so customer-facing teams can be more present in conversations, respond more quickly and focus on what matters most to the individual on the other end of the phone. 

Used well, AI like this can make interactions more personal, not less. It can help identify when someone may need additional support, including highlighting whether a caller might have a vulnerability so colleagues can respond appropriately. 

The AI can pick up on an issue such as underlying financial distress or if the member might have a neurodiversity or communication challenge, where the colleague might not have done so. They can then be signposted to one of our partners such as Citizens Advice for support. 

Language barriers are another example. Where English is not a member’s first language – one of the top three causes of customer vulnerability according to our data – individuals can speak with a translator. This might be one of our own colleagues who speak the same language, a professional translator, or through access to AI support in around 200 languages in real time. That can make an enormous difference to a member’s outcome.  

In conversations with advisers following the event, it was clear that AI's potential to improve member outcomes resonated strongly. Not because it can automate tasks, but because it can help deliver a more personalised and effective service, provided it is implemented thoughtfully and supported by the right safeguards. 

That’s something the regulators are laser-focused on too right now, not least with the The Pensions Regulator (TPR) AI Plan recently highlighting the importance of governance, oversight, testing, assurance and understanding for master trusts.

Brave new world

Of course, improving member outcomes is about much more than AI alone. It’s not a silver bullet that’s going to fix everything. 

That will need many different things working together to help members while they save, when they’re heading to retirement and when they’re enjoying their well-earned post-work life.  

It’s giving people information and guidance so that they understand pensions better, in clear and straightforward ways, online and on social media, where people get their information from. It’s better that they get that from a trusted source, of course.  

Giving people digital tools to understand their current retirement savings and what they need to save puts them in control, with the chance to engage earlier so that they’ve got time to improve their retirement outcomes, perhaps by adjusting their contributions, or taking their pension later. 

AI-enabled coaching and human support in a mix of targeted support and guidance is on the way and will guide and nudge people to improve their outcomes and help people engage earlier, make informed decisions and navigate the complexities of retirement planning with greater confidence. 

Because the future of member support is not about choosing between technology and people. It is about giving people options for what works for them - and using technology to help us be more human.