Sweden’s Alecta has revealed that more than one in 10 customers who transferred their pension to the company used ChatGPT to compare options before making the decision.

This was one of many findings in Alecta’s Transfer Report 2026, which showed that many people are unaware that their pension savings have been moved to a new provider and that knowledge about how pensions are invested is low.

The survey included customers who moved occupational pension savings to or from Alecta during 2025.

The survey period ran from March 2025 to February 2026, with a total of 1,093 respondents. In addition, Novus conducted a smaller qualitative study in February 2026 with customers who transferred pensions during 2025.

Commenting on the use of artificial intelligence (AI) in pension transfer decisions, Alecta pension economist, Staffan Ström, said: “It’s not surprising that AI has emerged as a tool for comparing occupational pensions. But it’s important that savers understand the limitations of AI tools and know how to get the best possible basis for decisions.”

In response to this change, Alecta has created a pension prompts guide for savers to use when communicating with AI.

The survey also found that one in four customers (25 per cent) who moved money from Alecta were unaware that their funds were transferred, up from 17 per cent last year.

In addition, more than one in 10 said they wanted greater security and guarantees from a pension product but ended up switching to a higher-risk unit-linked insurance product.

Furthermore, those who moved their pension out of Alecta often said someone else prompted the move, for example, through advice or offers from advisers, banks, or insurance companies.

Indeed, more than half of those who moved money out of Alecta received help, with most only signing documents. The equivalent figure for those moving in was just over one in 10.

At the same time, the share who said they initiated the move themselves has declined sharply.

“We see that those who have moved their pension out of Alecta are significantly less active than those who have moved in. The risk is they don’t make their own comparisons but rely blindly on intermediaries who may have a vested interest in the transfer,” Ström said.

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