Pension savers are increasingly relying on AI rather than financial guidance and advice websites to kickstart their retirement planning, according to data analysed by PensionBee, a leading online pension provider.
An analysis of the rise of ‘AI Overviews’ following Google keyword searches and a corresponding decline in traffic to key free advice websites suggests that AI increasingly satisfies the generic, early stage needs of savers when they start to consider pension and retirement options.
But while these Overviews may be reducing the need to go direct to the source for key information from websites such as the Government-run free and impartial MoneyHelper, they do not appear to have reduced traffic to services that offer more bespoke guidance, such as Pension Wise, which allows savers over 50 to book a free appointment for pension guidance.
Traffic to MoneyHelper is down 10% over the last six months, according to data gathered on semrush, the online search marketing platform, while the website has seen a steady increase in the number of AI Overviews generated from MoneyHelper’s content, over time.
OpenAI itself has noted a use case for ChatGPT among retirement savers. When asked how retired people or people approaching retirement in the UK are currently using ChatGPT and other AI tools to help with their financial planning, ChatGPT said: “Retired people and those nearing retirement are quietly but meaningfully using ChatGPT and similar AI tools as a thinking partner, not a replacement for regulated advice.”
The AI firm identified that sense-checking retirement decisions is the biggest use in this category, followed by modelling “what-if” retirement scenarios (informally), translating UK pension jargon into normal language; tax awareness and planning (with caution); co-ordinating the whole retirement picture and emotional reassurance and confidence-building.
Luis Mejia, Head of Data and AI at PensionBee, said: “As many of us have experienced, AI is a generally good substitute for some financial guidance, but advisory services are better protected. In the face of continued improvements to AI technology, the retirement industry faces a serious challenge of remaining relevant and trusted while savers increasingly rely on AI for more complex guidance and even personalised advice”.
The "Guidance" vs. "Service" Split
The Semrush data illustrates the divide between Informational Guidance (vulnerable to AI) and Transactional Services (resilient to AI).
- MoneyHelper (The Victim of "Zero-Click"): MoneyHelper’s core value proposition is generalised guidance—explaining rules, limits, and options. This is exactly the type of data Large Language Models (LLMs) excel at summarising.
- The Trend: In late 2025, reports indicated that "informational" websites saw traffic drops of 10–20% as Google’s AI Overviews began appearing
- Informational queries/ questions generate AI Overviews around 58% of the time
- The Mechanism: A user searches "pension annual allowance 2026". Previously, they clicked MoneyHelper. Now, the AI summarises the allowance directly. The user gets the answer and leaves (Zero-Click), causing the traffic drop.
- Pension Wise (The Protected "Service"): Pension Wise offers a specific, booked service (the government-backed guidance appointment).
- Why it's flat: You cannot "book an appointment" inside an AI summary yet. The user intent is transactional ("I want to book a call"), so they must click through to the site to complete the action.
- Providers (The Protected "Product"): Pension providers themselves are protected because people are likely searching for:
- Navigational queries: "Standard Life login" (AI can't log you in).
- Commercial intent: "Compare Aviva pension rates" (Users prefer trusted brand sources for money decisions).
Is AI replacing Advice?
Strictly speaking, no. AI is currently replacing Guidance, not Regulated Advice.
- Guidance (MoneyHelper's domain): "What can I do?" (Facts, rules, tax brackets). AI is rapidly taking over this layer. It is faster and easier for a user to ask an LLM than to read a long government guide.
- Advice (IFA domain): "What should I do?" (Personalised recommendation with liability). This remains human-led.
- Trust Gap: Users (and regulators like the FCA) rarely trust AI to make life-changing financial decisions due to ‘hallucinations’.
The Financial Conduct Authority is examining the impact of AI for financial services and consumers under the Mills Review, launched at the end of January. It set up the AI consortium in 2025 with the Bank of England. Meanwhile the Treasury Committee published a report ‘AI in Financial Services’, summarising current views.
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