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Pensions industry urged to strengthen AI visibility, accountability and controls


By Ellie Carric

Pension schemes and providers need to strengthen their understanding of where artificial intelligence (AI) is being used in operations, what data it has access to, who is accountable, and what happens when something goes wrong, according to Penfold.

The warning follows a recent survey from the Society of Pension Professionals that found universal AI usage across the pensions industry


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Pension scheme members unaware investment is main pension growth driver

Three quarters (75 per cent) of pension scheme members are unaware that investment growth is the main driver of pension pot values over the long term, according to analysis by Standard Life

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SIPP reforms risk 'information overwhelm' as firms call for clarity

Industry bodies have urged the Financial Conduct Authority (FCA) to provide greater clarity and avoid unnecessary regulatory complexity in its proposed reforms to self-invested personal pensions (SIPPs)

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Guest comment: Trustees should prepare now for the new DC pensions era

TPR director of DC and master trust supervision, Kim Goodall-Brown, calls on trustees and schemes to assess whether they meet the new requirements set out in the Pension Schemes Act 2026

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AI changed financial decisions for almost half of Gen Z

Almost half (48 per cent) of Gen Z adults have changed their minds about a financial decision after consulting artificial intelligence (AI), compared with just 2 per cent of people from the Silent Generation (aged 81 and older), according to research by Aegon

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Industry bodies call for greater clarity and flexibility in DB surplus regime

The government has been urged to provide greater flexibility and administrative clarity around its proposed defined benefit (DB) surplus regime, with industry bodies warning that parts of the framework could prove unnecessarily burdensome in practice

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P&O Ferries pays £94m Merchant Navy Ratings Pension Fund debt

P&O Ferries has paid the £94m it owed to the Merchant Navy Ratings Pension Fund (MNRPF) in full, following negotiations between the scheme’s trustees and DP World

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Over a quarter of adults feel anxious about making pension decisions

More than a quarter (26 per cent) of UK adults feel apprehensive about making pension decisions on their own, up from 19 per cent a year ago, according to research from Handelsbanken Wealth
Scottish Leather Group signs pension partnership with Standard Life

Members of the Scottish Leather Group pension arrangement have joined Standard Life’s contract-based defined contribution scheme, the Group Flexible Retirement Plan
News in brief - 21 August 2026

The latest news in brief and mandates from the past seven days
Standard Life to launch £2bn PRT partnership to target largest DB schemes

Standard Life is set to launch a new pension risk transfer (PRT) partnership backed by up to £2bn of initial capital, with the goal of expanding its reach into the largest and most complex defined benefit (DB) pension schemes

FCA bans and fines former director and CEO for high-risk pension investments

The Financial Conduct Authority (FCA) has banned Demetrios Hadjigeorgiou of SVS Securities from working in financial services, and fined him £56,400, for failing to properly manage SVS and protect its customers’ interests
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