Step 1: Use $a^2+b^2$ with $a+b$ fixed
With $a+b=\frac{\pi}{2}$, $a^2+b^2=\frac{(a+b)^2+(a-b)^2}{2}$. This is smallest when $a=b=\frac{\pi}{4}$.
Minimum $=\frac{1}{2}\cdot\frac{\pi^2}{4}=\frac{\pi^2}{8}$. Option (A).
Final Answer:
Option (A).
\[ \boxed{\text{(A)}} \]