Our Purpose outcomes

Our Financial Wellbeing service

Our Financial Wellbeing service provides personalised guidance to help people build financial resilience and make confident money decisions. Through an interactive financial health check, customers receive a tailored dashboard with relevant tools, articles and videos – covering topics that include budgeting, saving, debt, pensions and retirement planning.

Available online or through the mobile app, the service offers ongoing support at no extra cost, helping customers navigate key financial decisions and strengthen their long‑term financial wellbeing.

Since launch in July 2022, thousands of customers have completed a financial health check, which has also helped to identify potential government benefits for customers via an integrated Benefits Calculator.

More about the service

Developing our Private Assets capabilities 

Through our Asset Management business we are expanding our Private Assets capabilities, with the aim of delivering improved financial outcomes and security to our members.

We already allocate substantial investments to private assets, and expect to increase this allocation over time. The acquisition of Dalmore Capital in 2025 supports this strategy. Dalmore Capital specialises in long-term infrastructure investments, across a diverse portfolio, primarily in the UK but also in Europe and Canada. The acquisition will also help to broaden the selection of assets being invested in our Governed Range.

Our commitment aligns with our role as a signatory of the UK government’s Mansion House Accord, which encourages greater investment into UK private markets on a voluntary basis. In 2025 we also announced our backing for the Sterling 20 initiative, a UK-wide plan to drive regional growth and investment in infrastructure.

More on Dalmore Capital

Royal London and Turn2us: Tackling financial insecurity together

Royal London's partnership with Turn2us began in 2021 with a shared mission: to help people across the UK build financial resilience and access vital support during times of crisis. Turn2us works to end financial insecurity by providing tools, grants and guidance to those in need. Recognising the growing challenges posed by life shocks such as illness, bereavement or redundancy, Royal London joined forces with Turn2us to make a lasting impact.

Through the partnership, our donations have been helping to fund the Turn2us helpline and digital tools. Together, we've launched campaigns to raise awareness of benefits like Pension Credit and developed resources such as the Personal Independence Payment Helper.

In March 2025, Royal London announced an additional £2m commitment over three years. This renewed collaboration focuses on breaking down the stigma surrounding financial insecurity through research, advocacy and the creation of a digital-first advice network. The 2025 research study, 'Stigma in the System', examined how stigma is experienced in the UK social security system, how it shapes perceptions and behaviours, and what this means for financial security and wellbeing.

By combining Turn2us's expertise with Royal London's social impact strategy, we aim to empower individuals, normalise seeking help and inspire sector-wide change. Our partnership demonstrates the power of collaboration in addressing financial vulnerability and building a fairer, more resilient society.

More on Turn2us

Protecting against life shocks

By offering a wide range of products and services to meet the different needs of our protection customers, we are recognised by financial advisers as a trusted provider. This is evidenced by our 2025 Best Individual Protection Provider award at the UK Health & Protection Awards 2025 and our strong track record of claims payout.

In 2025, 98% of protection claims were paid out – representing over 62,000 claims and a total of £821m (2024: £751m).

Our commitment to protecting customers goes beyond paying claims. Through our Helping Hand service, available to eligible protection customers, we provide a package of wellbeing support to help customers live healthier lives. This includes access to independent helplines, wellbeing services, including a 24/7 GP service, and dedicated nurses who offer practical and emotional support during serious physical or mental illness, injury, or bereavement.

More on Helping Hand

Just transition

As part of our climate change activity, we champion a 'just transition' - shifting to a low-carbon economy in a fair and inclusive way, ensuring that workers, communities and vulnerable groups are supported through the change, creating jobs and leaving no one behind.

In October 2025, in partnership with Business in the Community (BITC), we launched the 'Creating a Future Ready Economy' report at an event at the Houses of Parliament. The report explores how the UK can ensure a fair and inclusive transition, to create an economy that is resilient to social, geopolitical and environmental shocks.

The report brings together insights from the University of Exeter and engagement with over 100 businesses, investors, academics and local communities. Recommendations include that government, businesses and civil society should tackle economic, social and environmental challenges together, to help unlock growth, create warm homes, secure jobs, and vibrant local economies. The report also recommends that the government sets clearer and more consistent policy to enable business and communities to innovate for growth and resilience.

We are already embedding climate resilience and social impact into our strategy and published our own Climate Transition Plan in 2025.

Read the BITC report (PDF)

Nature

As environmental wellbeing is linked closely to climate resilience and social prosperity, we are focused on embedding nature within our existing climate strategy and risk management frameworks. We have completed a comprehensive nature risk and impact assessment and have integrated nature into our climate risk appetite framework. Nature is also considered in our climate scenario planning and is a focus area when engaging with investee companies and our wider industry. 

We are considering ways to integrate nature into climate-aware investments – those that give customers and clients opportunities to invest in companies, and other assets, that align with the low-carbon transition or are credibly transitioning. We have continued to explore natural capital investment opportunities, following the first investment by our Asset Management business into agriculture and natural capital in 2024 – the acquisition of 21,000 acres of prime farmland in a £260m joint venture with South Yorkshire Pension Authority. This has included applying regenerative agricultural practices and opportunities to protect and enhance biodiversity, carbon capture and renewable energy.

Our property portfolio is a core part of our nature strategy. We have established a biodiversity baseline to measure the impact that our properties have on nature. This has helped to shape our strategy for identifying opportunities to enhance nature and biodiversity across our directly owned assets.

We believe that we have the most impact when we all play our part. As part of our colleague engagement work, we have rolled out nature-related training opportunities to colleagues. We are also making charitable donations to community-led nature restoration through our partnership with Groundwork – a federation of charities working to build a fairer, greener future for people, communities and nature.

More on Groundwork

Fossil fuels and net zero stewardship

In 2025, we outlined our investment approach to fossil fuels – which include coal, oil and natural gas. These release large amounts of greenhouse gases when produced and burned. To reach global net zero goals, there needs to be a switch towards using low-carbon or zero-carbon energy sources. 

Engaging with UK policymakers to support policies promoting low-carbon energy is a priority. Through our Asset Management business, our Net Zero Stewardship Programme assesses whether companies have credible climate transition plans. This includes the companies we invest in that are involved in fossil fuel production or that use fossil fuels to generate energy. We consider a plan to be credible if a company is, or is making progress towards, setting emissions reduction targets, supporting the wider transition to net zero, and demonstrating action. 

Our focus is on engaging with companies to influence the change needed. However, where we feel a company is not making enough progress or where there is a risk to our investments, we will take action. This can include stopping further investment, reducing our existing investment, or divesting completely. For example, in line with the objectives set out in our position statement, we continued to engage with the fossil fuels sector and phased out investment in companies heavily involved in thermal coal during 2025. 

More on our approach

Social impact

For the past five years, we are proud to have committed 1% of our operating profits each year to further our social impact work, helping us to focus on building people’s financial resilience while playing our part in moving fairly to a sustainable world.

Through our partnership with Turn2us we aim to tackle the stigma surrounding financial insecurity through research, advocacy and developing new support tools for customers. Since 2022, we have also partnered with Cancer Research UK to help support those in society facing the long-term effects of a cancer diagnosis – including physical, mental and financial challenges. And through our partnership with Groundwork – a federation of charities working to build a fairer, greener future for people, communities and nature – we are funding people-led nature recovery projects across the UK and Ireland.

Reinforcing our commitment to equality and inclusion in sport, Royal London is also the Founding Partner of the first ever British & Irish Lions Women’s rugby team. We actively supported and funded a study to explore the viability of a Lions Women’s Tour – which led to the announcement of the historic 2027 tour in New Zealand.

Through this groundbreaking partnership we are also investing £3m through our 'Levelling the Playing Field' grant, supporting elite player and coach development across the four Home Unions. In addition, we launched grassroots initiatives such as the Championing Women and Girls' Rugby Award, offering £10,000 grants to local clubs to grow participation. Our campaign work has featured widespread media coverage and local community events.

More on social impact

Improving choice - launch of our Stocks and Shares ISA

Our Stocks and Shares ISA, which we launched in September 2025, strengthens the product choice available to existing individual and workplace pension customers. The Stocks and Shares ISA is designed to offer customers and advisers an expertly managed investment option, clear and convenient digital journeys, and excellent value for money with one clear, competitive charge.

Our research showed that 60% of current cash ISA holders would consider making the switch to a stocks and shares ISA, yet a quarter of UK adults avoid using them due to a lack of understanding about how they work. That’s why we’ve prioritised clear, accessible guides and resources to support customers’ financial decision making.

New Stocks and Shares ISA customers are also eligible for our ProfitShare initiative, meaning they directly benefit from our success.

Our Stocks and Shares ISA

Sharing our success with eligible customers

We maintain an ongoing commitment to sharing our success with our customers. We reinvest our profits into the products and services we offer and, through our ProfitShare initiative, we are able to allocate a portion of our profits to the long-term savings plans of eligible customers.

Since its launch in 2007, over £2bn has been shared with eligible customers through ProfitShare. In April 2025, £199m will be allocated to eligible customers.

We extended this approach in 2023 with the introduction of ValueShare, the equivalent of ProfitShare in Ireland. In 2025, for the third consecutive year, we awarded ValueShare to eligible pensions customers across Ireland.

See our 2025 results

Securing financial futures through Bulk Purchase Annuities

We launched our Bulk Purchase Annuity (BPA) proposition in September 2024 and we are the only mutual operating in the market.

Our mutual offering has been well received by advisers and trustees of defined benefit pension schemes. Our BPA solution provides them with a secure and long-term approach to managing pension liabilities. Our proposition is built around delivering an outstanding experience for trustees and their pension scheme members – prioritising policyholder care, high-quality administration, and efficient post-transaction support. 

We believe that our BPA offering will help thousands of people to achieve greater security in retirement. In our first full year in the BPA market since launch, we completed 18 buy-in transactions with external pension schemes, generating £1.3bn in new business sales. Our offering will also be strengthened by the private assets capabilities we are building in our Asset Management business, which enables us to offer a broader range of asset classes.

Learn about BPAs

Supporting customers with financial decisions

According to The Lang Cat’s Advice Gap Report for 2025, only 9% of UK adults had paid for financial advice in the last two years. This advice gap is particularly acute at the point of retirement, where low engagement with long-term savings and limited understanding of available options can hinder informed decision making. 

Today, consumers face a stark choice: pay for advice or try and navigate their way without it. To address this, the Financial Conduct Authority's (FCA) Advice Guidance Boundary Review proposes a new regulatory framework called 'Targeted Support'. This is a new form of free advice, designed to help groups of consumers make better financial decisions and to bridge the gap between general guidance and fully personalised, paid-for financial advice.

We've been collaborating with the FCA during the development of this proposal, on the design and customer testing. Our modelling of the UK adult population shows that 21.5 million people could benefit from Targeted Support when it is introduced in April 2026.

We remain committed to adopting this new regime to better serve customers who do not have access to regulated financial advice. This builds on the tools we already provide, particularly for those with workplace pensions, and strengthens our ability to help customers make better financial decisions. 

Read about Targeted Support