XPS Group has taken over as administrator of the John Lewis Partnership Pensions Trust, ensuring continued service for 126,000 members, including 41,000 pensioners.
The deal involved close collaboration between XPS, JLP, and the Scheme Trustee, including the TUPE transfer of 25 JLP Pension Operations Partners, who now form a team within XPS.
XPS Group managing director of administration David Watkins says: “We are delighted to have delivered this complex project on time and to a high standard, ensuring members receive the quality of care they rightly expect. Our shared values with the John Lewis Partnership have been central to this success, and we warmly welcome our new colleagues from JLP into XPS.”
John Lewis Partnership transformation lead, pensions Paul Coyle says: “Looking after our Pension Scheme members and pensioners remains a priority, and we are delighted that this will continue to develop with our partnership with XPS. Following the Trustees’ appointment of XPS in October 2023, we are pleased with how the transition has progressed and the relationships forged between teams. We know JLP employees transferring to XPS will continue to flourish and would like to extend a huge thank you for their continued support, enthusiasm and dedication for the benefit of the Scheme and its members.”
Cosan Consulting co-founder Philip Dickinson says: “Partnership was a key factor in the initial selection of XPS, and that has been the case throughout the entire transition. To get to this important milestone has been a tremendous team effort from all concerned, and I have no doubt that everyone involved with the Scheme will continue to see the benefits of this approach over the years to come.”
