A recent survey by Aviva, a UK insurance company, reveals that a significant portion of UK adults are considering cryptocurrency as part of their retirement plans. The survey, conducted by Censuswide between June 4 and 6, 2025, polled 2,000 UK adults and found that 27% are open to the idea of including crypto in their retirement fund. This openness suggests that crypto could potentially claim a larger share of the UK's multi-trillion-dollar pension fund market.

The survey also highlighted that 23% of all respondents would consider withdrawing some or all of their existing pension funds to invest in crypto. This figure underscores the growing interest in digital assets among those planning for their future financial security.

Currently, UK adults have limited avenues for incorporating crypto into their retirement funds. In contrast, the United States has seen a development where President Donald Trump signed an executive order earlier this month that permits US 401(k) retirement plans to include Bitcoin and other cryptocurrencies, opening access to over $9 trillion in assets.

The Aviva survey revealed that 21% of UK adults, equivalent to approximately 11.6 million people, have already invested in cryptocurrencies. Furthermore, 14% of those surveyed are actively holding digital assets. Among younger adults aged 25 to 34, the trend is even more pronounced, with 18% reporting they have withdrawn funds from their pensions to invest in crypto. This demographic contributes significantly to the 8% of all respondents who have taken this step.

For those considering using their pension funds for crypto investments, the primary motivation, cited by 43%, is the potential for higher returns. Additionally, 36% are drawn to the innovation and new technologies associated with crypto, while 32% aim to diversify their investment portfolios.

Despite the growing interest, significant concerns temper enthusiasm for crypto investments. A substantial 41% of respondents cited security risks, such as hacking or phishing, as major deterrents. Another 37% pointed to the lack of regulation and protection surrounding crypto as a concern. Volatility in crypto trends was also a worry for 30% of those surveyed.

The survey also revealed that 30% of respondents are interested in crypto but do not fully understand the potential drawbacks of cashing in their pensions. Additionally, 27% were unaware of the risks involved in crypto investments.

While crypto gains traction, traditional pensions remain a cornerstone of future financial security. Over 82% of UK adults invest in workplace or private pension schemes. However, the survey indicates a lack of awareness regarding pension benefits among those intrigued by cryptocurrency. While 62% expressed concern about losing pension benefits if they opted to invest in crypto, over 22% were unaware of the tax relief and employer contributions available. Additionally, 12% did not realize their employer contributes to their pension at all.

Michele Golunska, Managing Director of Wealth & Advice at Aviva, emphasized the importance of weighing the risks versus rewards when it comes to crypto investments within retirement planning.