Artificial Intelligence (AI)
We strongly recommend you do not use AI tools to help you understand your annual benefit statement or any other communications sent to from Derbyshire Pension Fund.
The information included in your annual benefit statement is complex, although we have tried to make it as simple and accessible as possible.
We also recommend that you do not use AI to make decisions in respect of your pension with the Fund, or understand our communications due to the following risks:
- It is possible that the AI tool will provide you with confusing, misleading, or incorrect information; and the output it provides will not be tailored to you, your circumstances, the rules and regulations applying to the LGPS, or the Fund’s administrative practices.
- Should the AI tool provide you with misleading information on which you rely and suffer detriment, it is unlikely that you will be able to recover any compensation from the AI provider. Derbyshire Pension Fund accepts no liability for loss caused as a result of a scheme members’ misuse of AI.
- A common risk with publicly available AI tools is that private and confidential data may inadvertently be illegally shared. You will be putting any sensitive information belonging to you within that document at risk of being accessed if the AI provider is ‘hacked’ in the future.
If you have any questions about your annual benefit statement or anything in connection with the Fund, please contact us.
If you require financial advice, please contact an independent financial adviser.