Retirement benefits - Disclosure of analysis of scheme assets (Details) - GBP (£)
£ in Millions |
12 Months Ended |
Dec. 31, 2025 |
Dec. 31, 2024 |
| Disclosure of fair value of plan assets [line items] |
|
|
| Assets re-classification from unquoted to quoted |
|
£ 0
|
| Assets re-classification from quoted to unquoted |
|
0
|
| Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Fair value of scheme assets |
£ 21,558
|
£ 22,623
|
| % of total fair value of scheme assets |
100.00%
|
100.00%
|
| Bonds - fixed government | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
£ 1,930
|
£ 1,546
|
| % of total fair value of scheme assets |
9.00%
|
6.80%
|
| Bonds - index-linked government | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
£ 7,765
|
£ 8,234
|
| % of total fair value of scheme assets |
36.00%
|
36.40%
|
| Bonds - corporate and other | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
£ 6,405
|
£ 6,321
|
| % of total fair value of scheme assets |
29.70%
|
27.90%
|
| Equities | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Equities |
£ 128
|
£ 121
|
| % of total fair value of scheme assets |
0.60%
|
0.50%
|
| Private equities | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Equities |
£ 1,859
|
£ 2,134
|
| % of total fair value of scheme assets |
8.60%
|
9.40%
|
| Property | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Property |
£ 1,414
|
£ 1,257
|
| % of total fair value of scheme assets |
6.60%
|
5.60%
|
| Infrastructure | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Infrastructure |
£ 414
|
£ 1,388
|
| % of total fair value of scheme assets |
1.90%
|
6.10%
|
| Reclassification of loan asset |
£ 740
|
|
| Hedge funds | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Hedge funds |
£ 1,648
|
£ 1,399
|
| % of total fair value of scheme assets |
7.60%
|
6.20%
|
| Derivative financial instruments | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Derivatives |
£ (1,477)
|
£ (1,806)
|
| % of total fair value of scheme assets |
(6.90%)
|
(8.00%)
|
| Longevity reinsurance contracts | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Longevity reinsurance contracts |
£ (103)
|
£ (117)
|
| % of total fair value of scheme assets |
(0.50%)
|
(0.50%)
|
| Cash and liquid assets | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Cash and liquid assets |
£ 1,462
|
£ 2,075
|
| % of total fair value of scheme assets |
6.80%
|
9.20%
|
| Mixed investment funds | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Mixed investment funds |
£ 0
|
£ 8
|
| % of total fair value of scheme assets |
0.00%
|
0.00%
|
| Other | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Other |
£ 113
|
£ 63
|
| % of total fair value of scheme assets |
0.60%
|
0.40%
|
| Cash And Cash Equivalents1 | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Assets re-classification from unquoted to quoted |
£ 3,000
|
|
| Quoted | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Fair value of scheme assets |
13,838
|
£ 15,087
|
| Quoted | Bonds - fixed government | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
1,926
|
1,546
|
| Quoted | Bonds - index-linked government | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
7,765
|
8,234
|
| Quoted | Bonds - corporate and other | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
1,676
|
5,604
|
| Assets re-classification from quoted to unquoted |
4,000
|
|
| Quoted | Equities | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Equities |
128
|
121
|
| Quoted | Private equities | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Equities |
0
|
0
|
| Quoted | Property | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Property |
22
|
19
|
| Quoted | Infrastructure | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Infrastructure |
0
|
0
|
| Quoted | Hedge funds | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Hedge funds |
13
|
9
|
| Quoted | Derivative financial instruments | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Derivatives |
1
|
(7)
|
| Quoted | Longevity reinsurance contracts | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Longevity reinsurance contracts |
0
|
0
|
| Quoted | Cash and liquid assets | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Cash and liquid assets |
2,292
|
(454)
|
| Quoted | Cash | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Cash and liquid assets |
186
|
484
|
| Quoted | Pooled cash funds | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Cash and liquid assets |
2,102
|
2,529
|
| Quoted | Repurchase agreements | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Cash and liquid assets |
(830)
|
(948)
|
| Quoted | Mixed investment funds | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Mixed investment funds |
0
|
8
|
| Quoted | Other | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Other |
15
|
7
|
| Unquoted | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Fair value of scheme assets |
7,720
|
7,536
|
| Unquoted | Bonds - fixed government | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
4
|
0
|
| Unquoted | Bonds - index-linked government | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
0
|
0
|
| Unquoted | Bonds - corporate and other | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
4,729
|
717
|
| Unquoted | Equities | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Equities |
0
|
0
|
| Unquoted | Private equities | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Equities |
1,859
|
2,134
|
| Unquoted | Property | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Property |
1,392
|
1,238
|
| Unquoted | Infrastructure | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Infrastructure |
414
|
1,388
|
| Unquoted | Hedge funds | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Hedge funds |
1,635
|
1,390
|
| Unquoted | Derivative financial instruments | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Derivatives |
(1,478)
|
(1,799)
|
| Unquoted | Longevity reinsurance contracts | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Longevity reinsurance contracts |
(103)
|
(117)
|
| Unquoted | Cash and liquid assets | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Cash and liquid assets |
(830)
|
2,529
|
| Unquoted | Mixed investment funds | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Mixed investment funds |
0
|
0
|
| Unquoted | Other | Fair value of plan assets |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Other |
98
|
56
|
| UKRF | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Fair value of scheme assets |
£ 20,855
|
£ 21,928
|
| % of total fair value of scheme assets |
100.00%
|
100.00%
|
| UKRF | Bonds - fixed government | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
£ 1,725
|
£ 1,306
|
| % of total fair value of scheme assets |
8.30%
|
6.00%
|
| UKRF | Bonds - index-linked government | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
£ 7,751
|
£ 8,214
|
| % of total fair value of scheme assets |
37.20%
|
37.50%
|
| UKRF | Bonds - corporate and other | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
£ 6,200
|
£ 6,112
|
| % of total fair value of scheme assets |
29.70%
|
27.90%
|
| UKRF | Equities | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Equities |
£ 0
|
£ 0
|
| % of total fair value of scheme assets |
0.00%
|
0.00%
|
| UKRF | Private equities | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Equities |
£ 1,859
|
£ 2,134
|
| % of total fair value of scheme assets |
8.90%
|
9.70%
|
| UKRF | Property | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Property |
£ 1,392
|
£ 1,238
|
| % of total fair value of scheme assets |
6.70%
|
5.60%
|
| UKRF | Infrastructure | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Infrastructure |
£ 413
|
£ 1,388
|
| % of total fair value of scheme assets |
2.00%
|
6.30%
|
| UKRF | Hedge funds | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Hedge funds |
£ 1,635
|
£ 1,390
|
| % of total fair value of scheme assets |
7.80%
|
6.30%
|
| UKRF | Derivative financial instruments | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Derivatives |
£ (1,478)
|
£ (1,806)
|
| % of total fair value of scheme assets |
(7.10%)
|
(8.20%)
|
| UKRF | Longevity reinsurance contracts | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Longevity reinsurance contracts |
£ (103)
|
£ (117)
|
| % of total fair value of scheme assets |
(0.50%)
|
(0.50%)
|
| UKRF | Cash and liquid assets | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Cash and liquid assets |
£ 1,458
|
£ 2,065
|
| % of total fair value of scheme assets |
7.00%
|
9.40%
|
| UKRF | Mixed investment funds | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Mixed investment funds |
£ 0
|
£ 0
|
| % of total fair value of scheme assets |
0.00%
|
0.00%
|
| UKRF | Other | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Other |
£ 3
|
£ 4
|
| % of total fair value of scheme assets |
0.00%
|
0.00%
|
| UKRF | Quoted | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Fair value of scheme assets |
£ 13,231
|
£ 14,444
|
| UKRF | Quoted | Bonds - fixed government | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
1,721
|
1,306
|
| UKRF | Quoted | Bonds - index-linked government | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
7,751
|
8,214
|
| UKRF | Quoted | Bonds - corporate and other | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
1,471
|
5,395
|
| UKRF | Quoted | Equities | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Equities |
0
|
0
|
| UKRF | Quoted | Private equities | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Equities |
0
|
0
|
| UKRF | Quoted | Property | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Property |
0
|
0
|
| UKRF | Quoted | Infrastructure | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Infrastructure |
0
|
0
|
| UKRF | Quoted | Hedge funds | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Hedge funds |
0
|
0
|
| UKRF | Quoted | Derivative financial instruments | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Derivatives |
0
|
(7)
|
| UKRF | Quoted | Longevity reinsurance contracts | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Longevity reinsurance contracts |
0
|
0
|
| UKRF | Quoted | Cash and liquid assets | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Cash and liquid assets |
2,288
|
(464)
|
| UKRF | Quoted | Mixed investment funds | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Mixed investment funds |
0
|
0
|
| UKRF | Quoted | Other | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Other |
0
|
0
|
| UKRF | Unquoted | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Fair value of scheme assets |
7,624
|
7,484
|
| UKRF | Unquoted | Bonds - fixed government | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
4
|
0
|
| UKRF | Unquoted | Bonds - index-linked government | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
0
|
0
|
| UKRF | Unquoted | Bonds - corporate and other | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Debt instruments |
4,729
|
717
|
| UKRF | Unquoted | Equities | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Equities |
0
|
0
|
| UKRF | Unquoted | Private equities | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Equities |
1,859
|
2,134
|
| UKRF | Unquoted | Property | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Property |
1,392
|
1,238
|
| UKRF | Unquoted | Infrastructure | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Infrastructure |
413
|
1,388
|
| UKRF | Unquoted | Hedge funds | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Hedge funds |
1,635
|
1,390
|
| UKRF | Unquoted | Derivative financial instruments | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Derivatives |
(1,478)
|
(1,799)
|
| UKRF | Unquoted | Longevity reinsurance contracts | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Longevity reinsurance contracts |
(103)
|
(117)
|
| UKRF | Unquoted | Cash and liquid assets | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Cash and liquid assets |
(830)
|
2,529
|
| UKRF | Unquoted | Mixed investment funds | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Mixed investment funds |
0
|
0
|
| UKRF | Unquoted | Other | UK | Pension defined benefit plans |
|
|
| Disclosure of fair value of plan assets [line items] |
|
|
| Other |
£ 3
|
£ 4
|