Almost a third of people, 30%, say they trust AI tools when it comes to getting help with their pension, according to a new study.
Eight out of 10 (80%) said they trusted AI provided by regulated financial experts.
Almost a third (31%) said they would take AI-based information on big financial decisions to a financial adviser and one in four (24%) said they would speak to their pension provider.
One the other hand, almost half (48%) of people are worried that AI may give wrong or unsuitable pension advice; 43% worry about the safety of their data and two in five (38%) don’t think it would take their personal circumstances into account.
According to the data from Scottish Widows’ latest Retirement Report, AI is transforming the way people access financial support.
More than two in five (42%) are comfortable using AI to explain pension jargon, 37% would be open to calculating how much they need for retirement with AI and more than one in four (28%) would use AI to work out how much they need to save each month.
One in five (20%) said they would trust technology firms that don’t specialise in money more than any other provider, highlighting the pressing need for further education on how consumer protections differ.
Maria Herrero-Bullich, Scottish Widows’ chief customer & digital officer, said: “AI has the power to simplify complicated financial topics, personalise guidance, and make everyday decisions around pensions, savings and investments much easier to manage.
“As it becomes a normal part of managing our money, trust is essential. It’s clear that for those bigger, more complex moments people still value speaking to a financial expert, so the human factor and AI can comfortably co-exist to provide people with the confidence to make more informed decisions about their future.”
The research showed that just one in 10 (10%) retirees would be comfortable with AI suggesting the best way to withdraw from their pension. Among those aged 50 and over, just 5% said they plan to rely on AI tools before taking money from their pot.
• Research conducted online by YouGov across a total 6,224 adults aged 18+, weighted to be representative of the UK population, and including a boost of 1,000 adults aged 18+ to better understand the retirement prospects of minority ethnic groups, also weighted to be representative of the UK minority ethnic population aged 18+. Fieldwork was carried out between 16 February 2026 and 24 February 2026.