Standard Life has posted a 15% jump in IFRS adjusted operating profit to £945m in its latest annual results.

The pension provider also reported 5% growth in operating cash generation to £1.47bn which it said was driven by “continued operating momentum” in core businesses.

Standard Life, announcing its results covering the 2025 calendar year, said it its profitable growth had driven balance sheet strengthening while also leaving the company “uniquely positioned in attractive markets”, having estimated the UK’s long-term savings and retirement market to grow by 70% over the next decade.

The group’s workplace net inflows of £5.3bn last year comprised £10bn of gross inflows, a figure up from £9.3bn in 2024, while it also announced a 14% jump in new workplace members to 247,000.

Retail net outflows improved to £7.8bn, compared to outflows of £8.6bn in 2024, which the company said reflected “retail strategy green shoots”.

“Our results demonstrate strong progress delivering on our strategic priorities,” Standard Life CEO, Andy Briggs, commented.

“Further profitable growth and a strengthened Solvency balance sheet have supported increased shareholder returns and greater financial flexibility for the future, underpinned by the significant and growing levels of excess cash our business generates.”

Standard Life was reporting its results after also recently completing a name change from Phoenix Group Holdings to be listed on the London Stock Exchange under the ticker of SDLF.

Looking ahead, the company indicated it remains on track to deliver on its 2026 financial targets, which includes the delivery of around £500m of excess cash in 2026.

“We are firmly on track to deliver our 2026 financial targets, building momentum by continuing to sharpen our competitive position in one of the world's most attractive savings and retirement markets,” Briggs added.

“Operating as Standard Life plc brings our most trusted brand to the forefront, demonstrating our commitment to helping our customers achieve better outcomes and greater financial security in later life. We look to the future with confidence.”

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