Get ready to meet Freya

Artificial Intelligence (AI) is no longer a dream of the future for pensions - it’s already reshaping how members engage with their savings and plan for their retirement. We see this in results from the latest Global Sentiment Survey with almost two-thirds (64%) of UK workers saying they would, or already do, use AI to understand how much they will need in retirement.

There are challenges for workplace pension providers and their clients to meet that demand, not least that of trust. Of course technology can help us to expand the human knowledge and experience we have in managing pensions. But how do we improve long-term outcomes without compromising that trust, all the while maintaining good governance and keeping to strict regulatory standards? In a regulated environment, innovation only succeeds if it’s governed responsibly.

We believe that Freya strikes that balance. It’s our customer-facing, conversational AI experience that’s designed to make pensions easier to understand and manage, operating within a robust control framework. Freya will be available for workplace members from July.

Moving beyond traditional digital journeys

For many workplace pension members today, researching retirement is an obstacle course. Despite our best efforts to make this easy on our website, it can still feel like a lot of complex language and concepts that put a mental load on members, not to mention the challenge of trying to get to grips with tax. Freya changes that experience fundamentally.

Instead of searching, members can simply ask questions - in language that they would use if they were talking to a trusted partner - and get immediate, relevant answers. 

What sounds like a small shift is actually removing one of the biggest friction points in digital engagement: effort. It’s a transformational shift in supporting members with the complex financial decisions they need to make for their retirement.

For employers and trustees, this is particularly valuable. Engagement is the crucial first step towards building an adequate retirement pot, and has long been a burning issue. By making access to information faster, more reliable and more intuitive, Freya helps members get what they need in seconds rather than minutes - reducing frustration and improving satisfaction. It offers a scalable way to reach members where they are, providing support at any particular point of their pension lifecycle, whether they’re just getting started or in retirement.

Delivering meaningful value at scale

One of Freya’s biggest strengths is its ability to provide consistent, high-quality guidance to different audiences with different needs.

Unlike traditional chatbots, which rely heavily on pre-defined scripts and can quickly hit dead ends, Freya is designed to handle a wider range of queries with greater flexibility. This means fewer fruitless searches that lead nowhere and a more natural interaction that feels closer to speaking with a knowledgeable guide. And through constant testing and daily reviews, we’re able to fine-tune the answers we give.

For workplace pension schemes, this translates directly into better member experiences, and generally creates a better path to engagement at key decision points.

Freya has already supported more than 50,000 conversations since we launched for retail investors in September 2025, with clear signs of strong engagement and follow-up action. Put simply, Freya is making it easier for members to clear the fog of uncertainty surrounding investments.

And because Freya is always on, it complements existing service models without replacing them. Members can explore questions independently, but if they need to talk through more complex situations, they can always speak to an associate in our Service Centre. A core principle of ours is to always have a human point of escalation, and to surface this more readily in situations where human judgement and empathy are required.

Built with trust, control and compliance at its core

Introducing AI into pensions comes with clear responsibilities. There has been much debate around how AI will affect our daily lives, and truth be told, the debate will continue to evolve as the results of AI onboarding reveal themselves. But we’re not letting the fox into the hen house! Freya has been designed from the outset to meet the highest standards of safety and security.

Every answer goes through multiple validation layers to make sure it’s accurate, that it’s delivered in the right language, and that it stays within the regulatory boundaries. All of these interactions are monitored and reviewed, so that we can track and trace the kind of guidance we’re giving and continuously improve our output.

This rigour and oversight means Freya is a carefully curated experience that’s designed to deliver accurate answers that can be trusted by members and scheme sponsors alike.

A foundation for personalised member support

The next step for Freya is to expand into secure, authenticated environments such as PlanViewer and the mobile app. This means it will be able to incorporate verified personal data, such as account balances, contribution amounts and retirement timelines, to offer far more tailored support. This will only be granted with the member’s consent, of course.

In practical terms, this will mean Freya can help members understand whether they’re on track for retirement, explain the impact of changing contributions amounts, and present investment choices based on individual circumstances and attitude to risk.

Freya will become part of a more connected experience by using real-time data, delivering personalised messages, in the right channel, at the right time.

For workplace clients, this represents a step change in how members are supported across their entire pensions journey. It puts their pension into the context of their whole financial outlook.

The future of Freya

Freya is central to our broader strategy of supporting members in the channel and format that’s right for them. It will increasingly become the first point of contact for member queries, freeing up associates in our service centre to step in on situations that are better served by a conversation.

The long-term vision is a single, trusted conversational interface across the entire ecosystem, supporting members from initial enrolment through to retirement. Members get faster answers, service teams are better supported with the right data, and complex cases receive more focused attention.

It improves accessibility, drives engagement and lays the groundwork for more personalised, data-driven support, without losing sight of the governance and trust that underpin workplace pensions.

Freya is a compelling example of how we’re using AI to transform outcomes for members and employers while using responsible oversight to maintain high levels of trust.

If you’d like to know more about our approach to AI, please contact your Fidelity representative.