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Pensions - Investment strategy (Details) - GBP (£)
£ in Millions
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Pensions    
Fair value of assets £ 106,139 £ 166,523
Fair value of liabilities £ 100,835 £ 160,705
Main Scheme    
Pensions    
Percentage of total plan assets 90.00% 90.00%
Equities 8.40% 8.50%
Index-linked bonds 46.70% 49.40%
Government bonds 9.80% 6.20%
Corporate and other bonds 15.10% 16.80%
Real estate 4.40% 4.20%
Derivatives 8.80% 10.00%
Cash and other assets 6.80% 4.90%
Total 100.00% 100.00%
Percentage of collateral 95.00%  
Maximum percentage of indirect investment by trustees 5.00%  
Main Scheme | Swap    
Pensions    
Notional amount £ 192,000 £ 88,000
Fair value of assets 4,573 4,706
Main Scheme | Inflation rate swaps    
Pensions    
Notional amount 20,000 18,000
Fair value of assets 1,408 1,390
Fair value of liabilities 796 1,716
Main Scheme | Interest rate contracts    
Pensions    
Notional amount 172,000 68,000
Fair value of assets 8,385 11,197
Fair value of liabilities 4,421 6,215
Main Scheme | Currency forwards    
Pensions    
Notional amount 12,000 11,000
Fair value of assets 61 334
Fair value of liabilities 98 38
Main Scheme | Equity and bond call options    
Pensions    
Notional amount   1,000
Fair value of assets 1 169
Fair value of liabilities   1
Main Scheme | Equity and bond put options    
Pensions    
Notional amount   3,000
Fair value of assets 1 1
Fair value of liabilities 3 19
Main Scheme | Other    
Pensions    
Notional amount 1,000 2,000
Fair value of assets 9 63
Fair value of liabilities £ 10 £ 17
Quoted    
Pensions    
Equities 3.70% 3.90%
Index-linked bonds 46.70% 49.40%
Government bonds 9.80% 6.20%
Corporate and other bonds 10.70% 11.80%
Total 70.90% 71.30%
Unquoted    
Pensions    
Equities 4.70% 4.60%
Corporate and other bonds 4.40% 5.00%
Real estate 4.40% 4.20%
Derivatives 8.80% 10.00%
Cash and other assets 6.80% 4.90%
Total 29.10% 28.70%