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Retirement benefit obligations - Schedule of Composition of Scheme Assets (Details) - GBP (£)
£ in Millions
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
[1]
Debt instruments held [abstract]      
Debt securities £ 15,355 £ 9,926 [1] £ 6,835
Investment grade      
Debt instruments held [abstract]      
Defined benefit scheme fair value of scheme assets debt instruments with investment grade 26,777 20,369  
Retirement scheme assets      
Debt instruments held [abstract]      
Fixed interest government bonds 5,657 3,007  
Index-linked government bonds 16,105 15,497  
Corporate and other debt securities 7,305 3,978  
Asset-backed securities 4 0  
Debt securities 29,071 22,482  
Pooled investment vehicles 8,974 18,593  
Property 97 116  
Equity instruments 85 54  
Money market instruments, cash, derivatives and other assets and liabilities (4,494) (8,548)  
At 31 December 33,733 32,697  
Quoted £m | Retirement scheme assets      
Debt instruments held [abstract]      
Fixed interest government bonds 5,657 3,007  
Index-linked government bonds 16,105 15,497  
Corporate and other debt securities 7,305 3,978  
Asset-backed securities 4 0  
Debt securities 29,071 22,482  
Pooled investment vehicles 613 2,730  
Property 0 0  
Equity instruments 23 7  
Money market instruments, cash, derivatives and other assets and liabilities 466 1,069  
At 31 December 30,173 26,288  
Unquoted £m | Retirement scheme assets      
Debt instruments held [abstract]      
Fixed interest government bonds 0 0  
Index-linked government bonds 0 0  
Corporate and other debt securities 0 0  
Asset-backed securities 0 0  
Debt securities 0 0  
Pooled investment vehicles 8,361 15,863  
Property 97 116  
Equity instruments 62 47  
Money market instruments, cash, derivatives and other assets and liabilities (4,960) (9,617)  
At 31 December £ 3,560 £ 6,409  
[1]
1    Restated for presentational changes and for the adoption of IFRS 17; see notes 1 and 54.