Aviva survey shows a quarter of people would consider using cryptocurrency as part of retirement plans

New research from Aviva reveals the number of UK adults who say they would consider cryptocurrency as part of their retirement planning - despite widespread concerns about its volatility, security, and lack of regulation.

Cryptocurrency has captured the imagination of many investors, with just over one in five UK adults (21%) - equivalent to 11.6 million people - claiming to have invested in crypto, and 14% who say they are currently holding some form of digital assets.  Amongst younger adults aged 25–34, one in five (18%) say they have already withdrawn money from their pension to invest in crypto, contributing to a total of 4.3 million people (8%) who have done so.

Looking ahead, more than a quarter (27%) of respondents say they would consider investing in cryptocurrency as part of their retirement planning, and 23%^[1]  would consider withdrawing part, or all, of their pension to do so. A further 13% (7 million people) remain unsure.

Among those considering using their pension funds to invest in crypto, most (43%) are motivated by the higher potential returns; more than a third (36%) are excited by innovation and new technologies and a similar number (32%) said they wished to diversify their portfolio.

However, this interest is also tempered by significant concerns around security risks (41%), such as hacking or phishing; the lack of regulation and protection around crypto (37%) and the volatility in crypto trends (30%).

Three in ten (30%)^[2] respondents are interested in crypto, but don’t understand the benefits they may be giving up by cashing in their pensions, and 27%^[2] didn’t realise there are any risks involved.

Despite the growing popularity of crypto over recent years, pensions remain a cornerstone of future financial security. More than four in five people (82%)^[3] in the UK today invest in a workplace or private pension.

Yet, the awareness of pension benefits amongst this cohort seems to be lacking. Although six in ten (62%^[4]) said they would be concerned about losing pension benefits if they opted out to invest in crypto; more than one in five (22%) are unaware of the tax relief and employer contributions available and, one in ten (12%), surveyed didn’t realise their employer contributes to their pension at all.

Michele Golunska, Managing Director of Wealth & Advice at Aviva commented:

“There are lots of different investment opportunities out there, and it’s easy to see why cryptocurrency has become so popular in recent years. But we mustn’t forget the value of the good old pension. It comes with some powerful benefits, like employer contributions and tax relief, that can make a real difference to your long-term financial wellbeing. It’s important to weigh up the risks and rewards carefully and make sure your retirement savings are working as hard as they can for you.”

Aviva encourages consumers to take a balanced approach to retirement planning and urges people to prioritise long-term financial security over short-term speculation.

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References:

¹ _{‘Yes, I already have’ and ‘Yes, I’m thinking about it’ responses combined [↑]}

² _{‘Strongly agree’ and ‘Somewhat agree’ responses combined [↑]}

³ _{Workplace pension participation and savings trends of eligible employees: 2009 to 2024 - GOV.UK  [↑]}

⁴ _{‘Yes, very concerned’ and ‘Yes, somewhat concerned’ responses combined [↑]}

Methodology:

The research was conducted by Censuswide, among a sample of 2,000 general consumers who have a partner - married, relationship, civil partnership. The data was collected between 04.06.2025- 06.06.2025. Censuswide abides by and employs members of the Market Research Society and follows the MRS code of conduct and ESOMAR principles. Censuswide is also a member of the British Polling Council.

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