Another strong year for workplace pensions at Royal London
Over recent years we’ve made significant progress in strengthening our workplace pensions offering. In 2025, we continued to build momentum, reinforcing the foundations for future growth.
We delivered another strong year across the Group, with total operating profit rising 18% to £327m, reflecting the continued momentum across the business.
The launch of our Stocks and Shares ISA made it easier for employers to offer a broader savings choice and simpler for individuals to access through our app or website.
We also introduced new governance and insight tools for employers, expanded our education programme to help employees engage with their pension, enhanced our video pension statements and added new app features all to support employees to make confident financial decisions.
Our focus on service excellence was recognised by retaining our five‑star rating in the Corporate Adviser Service Ratings for the fifth consecutive year, a milestone unmatched by any other provider. We also received a five-star rating for Pensions and Protection at the Financial Adviser Service Awards, alongside retaining our five-star Investment Provider rating for the 12th consecutive year. And we proudly received Pension Provider of the Year at the Workplace Savings & Benefits Awards.
2025 in numbers
Workplace pensions are core to our business, and we’ve seen strong growth over recent years. During 2025, sales remained steady at £4.5bn, and we welcomed 230,000 new customers, taking the total number of workplace pension scheme members we support to 2.2 million. Overall workplace assets under management (AUM) grew 23% to £38bn, driven by strong net inflows and positive market performance.
We’re owned by our customers and, when we do well, they share in our success. This year, we’ll share £199m with eligible customers – many of whom are workplace pensions customers - through ProfitShare, bringing the total shared since 2007 to over £2bn.
In 2025 we also contributed £3.5m to support social impact initiatives aiming to drive positive change. This includes extending our partnership with Turn2us, a charity working to address financial insecurity across the UK.
2026 and beyond
As workplace pensions evolve amid regulatory change and rapid technological advancement, we believe it will be the organisations that are able to innovate for a purpose – to help employees save well for retirement - which will succeed.
That’s why we are investing £100m over the next three years to further enhance our workplace pensions offering. We’ll invest in digital innovation, service excellence and broader investment solutions, to allow us to support more advisers and employers, from small- and medium-sized businesses to large corporates.
We remain committed to championing impartial financial advice while recognising that full advice isn’t accessible for everyone. That’s why we continue to invest in high quality guidance across our digital tools and customer experiences, and why we’ll be launching a Targeted Support solution to complement fully individualised financial advice.
We do all of this to help employees save well for retirement. We’ll keep working closely with employers and advisers to fulfil that ambition, today and for the long term.