We understand some of our members may wish to use Artificial Intelligence tools (E.g., ChatGPT, Gemini, CoPilot etc.) to help them to understand and interpret information relating to their pension.

In general, we strongly recommend that you do not use AI to help you understand information and communications you receive from the Pension Fund about your benefits or other pensions matters.  Pensions are complex, and information supplied in our documentation cannot be easily or accurately summarised using AI.  Relying on AI to do this could result in you being given confusing, misleading, or incorrect information.  The output AI provides will not necessarily be tailored to you, your circumstances, the complex set of rules and regulations applying to the Fund, or the Fund’s administrative practices.  AI tools may produce advice based on incorrect or incomplete information.  They are known to “hallucinate” and make up information which does not exist. 

With this in mind, we advise any member choosing to use AI to be mindful of the risks in doing this.

Firstly, submitting your personal financial information into a public AI tool means you do not know where your data will be stored or who has access to it.  This increases the risk of your data being used against you, E.g., hacking into your online accounts, impersonation, phishing attacks, onward sharing with others.  You only retain control of your personal data by keeping it secure.

Secondly, you should never accept the advice provided by an AI tool without carefully reviewing what it is suggesting to you, for the reasons described above.  Relying on advice produced by AI without being sure it is appropriate for you may result in financial detriment for you or your dependents.  You may wish to consider taking independent financial advice before making any decisions about your benefits.

Cheshire Pension Fund can take no responsibility for any actions or decisions taken by a member who have relied on an AI tool to interpret information provided by the Fund.

If you need help to better understand information provided to you by the Fund, we strongly advise getting in touch with one of our team in the first instance.  Email pensions@cheshirewestandchester.gov.uk and we will get back to you as soon as we can.