How Data Drives AI in Pensions: A Guide

PASA - Pensions Administration Standards Association CIC just released guidance on the use of AI, headlined by the pragmatic message to ”Embrace the opportunity with caution”. The guidance provides some good advice and signposts pension providers, administrators and trustees to some key areas of opportunity and risk. Opportunities: It gives some examples of where pension providers are using AI effectively - chatbots/virtual assistants to improve service, predictive analytics on engagement, fraud detection / risk management, automated document processing, knowledge management, investment strategy optimisation and member feedback analysis. Key risks and considerations: It outlines some key areas to consider ranging from understanding AI, data quality, data privacy and security, managing and minimising bias and discrimination, transparency and accountability, the importance of human oversight. What it doesn't do: This is high level guidance, more focused on “what” than “how”. It doesn’t provide a lot of detail on the practical steps to get started and be successful on an AI journey. PASA does however recommend consulting with AI specialists. At CreateFuture we have decades of experience in the pensions industry and AI playbooks we can rapidly deploy to provide confidence and clarity within weeks on areas like: 🎯 AI strategy 🔍 Data readiness 💡 AI opportunity identification and validation 🛡️ AI governance, policies and guardrails 🛠️ Technology and tooling 🤝 People, culture, skills and change management So if you are working in pensions and want to explore the opportunities for AI in a pragmatic and no-nonsense way then please get in touch and we’ll be happy to chat! Full PASA report available here - https://lnkd.in/ef4aE4m3 #AI #Pensions

🚨 Your retirement could soon be managed by AI—and that's not necessarily a bad thing. The Pensions Administration Standards Association (PASA) just released the first-ever comprehensive AI guidance for pension administration. This is huge. Here's why this matters for millions of workers: ✅ Faster processing of retirement benefits ✅ Reduced human errors in pension calculations ✅ More efficient handling of complex administrative tasks ✅ Better data quality and risk management But here's the catch—trustees need to "embrace the opportunity with caution." The pension industry has been drowning in administrative complexity for years. Manual processes. Endless paperwork. Delayed benefit payments. AI could solve these problems, but only if implemented correctly. The key areas PASA highlights: 🔹 Maintaining high-quality data standards 🔹 Practical AI implementation examples 🔹 Critical risk management for trustees 🔹 Protecting member interests above all This isn't just about efficiency—it's about creating a better retirement experience for everyone. The question isn't whether AI will transform pension administration. It's whether the industry will adopt it responsibly. What's your take—are you ready for AI to help manage your retirement?

🚨 Your financial advisor might be obsolete sooner than you think. A groundbreaking University of St.Gallen study just revealed something that will change retirement planning forever: AI isn't just coming for retirement provision—it's already here. Here's what caught my attention: ✅ 80% cost reduction through automation ✅ 24/7 personalized robo-advisors ✅ Custom pension plans based on your health data ✅ AI-powered fraud prevention ✅ Optimized investment strategies that adapt in real-time But here's the kicker: 80% of pension fund professionals expect "massive productivity gains" from AI integration. The research identified 7 key transformation areas, but the most shocking finding? AI will change retirement provision "faster than any regulation" can keep up. This isn't about replacing human expertise entirely. It's about hybrid models where AI handles the heavy lifting while humans focus on strategy and relationship building. The question isn't whether AI will transform your retirement planning—it's whether you'll be ready when it does. What's your take: Will you trust AI with your retirement future, or stick with traditional advisors?

Earlier this week, PASA published industry guidance regarding the use of AI in pensions administration - marking the first guidance published by a major pensions body on AI usage. The guidance includes some recommended actions for trustees to take. We take a look at the guidance and summarise the steps that trustees should be taking in respect of AI in our article - https://lnkd.in/efWkwW-9 Chris Brown Richard Pettit Tom Whittaker #Pensions #AI #PensionsAI

“Data Confession: The Pension Panic of My Intern Days” Picture this: Actuarial intern Ebony — Excel open, formulas everywhere, feeling fairly confident. I had just handed off a pension benefit calculation for review when I realized something horrifying…I had missed a hard-coded number in a cell reference. That one tiny error threw off the final pension benefit by almost $150,000 dollars, just enough to give someone a mini heart attack!!! Thankfully, it was caught by the Senior Actuary before it ever saw the light of day (or a pension statement). That was the day I learned one of the golden rules of data: Bad data or broken formulas don’t just skew numbers; they skew trust. Whether it’s pensions, payrolls, or performance dashboards, accuracy matters. A single formula slip, one unchecked data field, or a “quick fix” can ripple into big consequences. So yes, my heart stopped for about 30 seconds that day… but no pensioner was shorted on account of my mistake. The lesson: Clean, verified data saves reputations (and stress levels). Want to avoid your own “Pension Panic” moment? Check out DataAura Analytics Ltd. We’re helping teams across the region build data processes that catch errors before they catch you.

PwC Pensions Virtual Ideas Exchange - AI in Pensions: Turning Experimentation into Strategy We're hosting our next Virtual Ideas Exchange later this month (on 27th November). This is a focused and interactive virtual session exploring how UK pension schemes can move from early AI experimentation to structured, strategic adoption. We’ll unpack the journey with AI within the pensions landscape so far, discuss what we're seeing from a regulatory perspective and how trustees and sponsors can use AI responsibly in practice. It will include a demonstration showing how AI can add value in the pensions sector to bring this to life. I’ll be in the chair for this one, and we have a fantastic panel of experts featuring: Paul Neville: Executive Director of Digital, Data and Technology of The Pensions Regulator Gavin Sharma: PwC Director and Pensions AI and Technology Leader Kristy Cotton: PwC Director, Head of Pensions Data and Chair of PASA Data Working Group Rashida Rahim: PwC Manager and Pensions AI specialist Register using the link below to secure your place and join the discussion on how AI can shape the future of UK pension schemes! https://lnkd.in/ejJZzYbU #Pensions #AIAdoption #Trustees #CorporateStrategy #IdeasExchange #VirtualEvent#VIE Gavin Sharma Kristy Cotton Rashida Rahim Emma Morton Atul del Tasso-Dhupelia

🚨 Your retirement plan might be outdated before you even retire. A groundbreaking Swiss study just revealed something that should make every working professional pay attention: AI is about to completely transform how we save for retirement. Here's what caught my attention: 80% of pension fund experts believe AI will deliver massive productivity gains. The research identified 7 game-changing areas where AI is already making an impact: ✅ Automation cutting administrative costs ✅ Personalized financial education tailored to your situation ✅ 24/7 digital pension advice (no more waiting for appointments) ✅ Custom pension plans based on your actual data ✅ Optimized investment strategies that adapt in real-time ✅ Advanced fraud prevention protecting your savings ✅ Healthcare cost reduction extending your retirement funds The reality? Swiss retirement systems are under massive pressure from aging populations and low interest rates. But here's the opportunity: AI could be the "decisive lever" that modernizes pension provision—potentially reducing costs while improving access for millions. The catch? Success depends on maintaining trust through data protection, transparency, and ethical standards. Most people are still planning for retirement like it's 1995. The smart ones are already thinking about how AI will reshape their financial future. How do you think AI will change the way you plan for retirement?

How does an idea on paper transform into a functional SupTech tool? The European Insurance and Occupational Pensions Authority (EIOPA) has mapped a practical roadmap from conceptualization to the responsible implementation of supervisory technology that ensures equity. Follow our page for more updates, and explore SupTech in further detail in our blog here: https://lnkd.in/dvj2sWvx #SupTech #RegTech #AI #DigitalBanking #DataScience #MSC #MSCinsights Ayushi Misra Surbhi Sood Akshat Pathak Abhishek Katariya Duenna Dsouza Bhavya Mitra Priyal Advani Srinivas Balakrishnan Nikhita Jindal

High-quality data 'crucial' for AI's success in pensions administration: The focus on data quality will need to get stronger if pension administration is to capture the opportunities presented by artificial intelligence ...

PwC Pensions Virtual Ideas Exchange - AI in Pensions: Turning Experimentation into Strategy Our next Virtual Ideas Exchange will take place on 27 November and the focus will be on how UK pension schemes can move from early AI experimentation to structured, strategic adoption. In this fascinating session we will cover how AI is being used across the pensions landscape and the lessons so far, the regulatory perspective and how trustees and sponsors can apply AI responsibly and practically. It will include a demonstration showing how AI can add value in the pensions sector to bring this to life. We are delighted to be joined by Paul Neville from The Pensions Regulator. Our expert panel includes: Paul Neville: Executive Director of Digital, Data and Technology of The Pensions Regulator Gavin Sharma: PwC Director and Pensions AI and Technology Leader Kristy Cotton: PwC Director, Head of Pensions Data and Chair of PASA Data Working Group (and the recently acclaimed Professional Pensions Women in Pensions Administrator of the Year!) Rashida Rahim: PwC Manager and Pensions AI specialist Register using the link below to secure your place and join the discussion on how AI can shape the future of UK pension schemes. https://lnkd.in/ejJZzYbU #Pensions #AIAdoption #Trustees #CorporateStrategy #IdeasExchange #VirtualEvent #VIE Gavin Sharma Kristy Cotton Paul Neville Rashida Rahim Mark Jennings Jeremy May Saye Mkangama Alison Fleming Leo Ring Paul Wolstenholme Lindsay Hayward Claire Blackburn Emma Morton Matt Cooper Steve Blackmore Robin Dickinson Steven Kirkpatrick Hiten Amin Victoria Tillbrook Atul del Tasso-Dhupelia Minesh Rana Katie Lightstone Jonathon Land Colin Cummings Kieran McGing