Workplace pension membership at Royal London has reached 2.2 million savers, after the mutual added 230,000 new members last year, according to its 2025 annual results.

Royal London said workplace pensions remained the largest source of new customers for the group, with most members invested in its 'governed range' portfolios.

The governed range attracted £2.6bn in net inflows during 2025, while assets under management (AUM) in the range increased to £83bn, up from £72bn in 2024.

Royal London also confirmed plans to invest £100m over the next three years to enhance its workplace pensions proposition, aiming to support a growing number of employers and employees with retirement savings.

Overall, its workplace pensions new business sales reached £4.5bn in 2025, broadly in line with the previous year’s £4.46bn.

Itsross workplace pension flows increased by 10 per cent, reflecting both the firm’s growing book of schemes and the impact of wage inflation, although Royal London said it continued to see members transferring savings elsewhere as part of wider pension consolidation trends.

Commenting on the results, Royal London group chief executive officer, Barry O’Dwyer, said that the group had delivered a strong year across its pensions business.

“Workplace pensions are core to our business, providing 2.2 million customers with access to our flagship, governed range investment portfolios," he stated.

“Our continued success and long-term focus as a mutual on customers are enabling us to invest £100m over the next three years to enhance our workplace pensions offer, allowing us to support an increasing number of employees with their retirement savings."

Across the wider business, Royal London reported life and pensions new business sales of £12.2bn in 2025, up by 13 per cent from £10.8bn the previous year.

Group adjusted operating profit increased 18 per cent to £327m, while total AUM rose to a record £199bn, driven by market growth, net inflows and the acquisition of infrastructure asset manager Dalmore Capital.

The mutual also confirmed it would distribute £199m to eligible customers through its ProfitShare scheme in April 2026, bringing the total shared with customers since 2007 to more than £2bn.

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