Employees turning to AI and social media for pension advice 

More than one in four UK employees are relying on unregulated sources, such as AI tools, social media and friends for pension guidance, amid growing demand for workplace financial wellbeing support.

A study of 2,000 UK workers with defined contribution pensions, by financial wellbeing and retirement specialist WEALTH at work, found that 28 per cent seek pension information from informal sources, while 14 per cent have not sought any guidance at all.

The findings suggest that financial decisions become increasingly influenced by digital platforms. Separate Mintel research cited by WEALTH at work found that 30 per cent of people now use “finfluencers” or AI tools to help inform financial decisions, despite these sources operating outside UK financial regulation.

The research also suggests employers may be missing an opportunity to support employees with retirement planning.

Only 12 per cent of respondents said they had turned to their employer for pension guidance, compared with 25 per cent who sought support directly from their pension provider.

At the same time, almost one in four employees (23 per cent) said they would like financial education and one-to-one pension guidance through their workplace. Meanwhile, 30 per cent said they feel unsupported by their employer on financial wellbeing, up from 26 per cent a year earlier.

The Pension Schemes Act, introduced in April 2026, places greater emphasis on supporting people to make informed decisions about accessing their pension savings.

Jonathan Watts-Lay, director of WEALTH at work, said: “Employees clearly want more help with their pensions, but many are not accessing reputable sources. This can present significant risks, especially if important decisions are based on informal or unverified information found online – particularly given the rise of ‘finfluencers’.”

He added that the issue may not simply be a lack of support, but whether employees know it exists or feel confident using it.

“What’s striking is that while workplace support may often already be in place, it’s not being fully utilised,” Watts-Lay said. “This raises important questions around awareness, accessibility, relevance and engagement – whether employees know what support is available, and whether it is delivered in a way that feels relevant and easy to act on.”

For employers, the findings reinforce the growing role of financial wellbeing within wider workplace health and wellbeing strategies. Financial stress is a recognised contributor to poor mental health, reduced productivity and increased absence, making access to trusted financial education an increasingly important part of supporting workforce wellbeing.

According to Watts-Lay, employers have an opportunity to become a more trusted source of retirement support.

“As unregulated sources become more prominent, it’s increasingly important that employers reinforce their role as trusted sources of support, helping employees make informed decisions about their retirement,” he added. “Working with trusted workplace providers can play a key role in delivering this effectively.”