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The John Lewis Partnership Pensions Trust has outsourced its in-house administration to XPS Group. As part of this, 25 John Lewis partners were ‘TUPEd’ to XPS and now form a dedicated team at the firm.
The firm was appointed in autumn 2023, and XPS has now said the project has been delivered on schedule. The department store’s pension fund has 126,000 members, including 41,000 pensioners.
“Following the trustees' appointment of XPS in October 2023, we are pleased with how the transition has progressed and the relationships forged between teams,” said Paul Coyle, transformation lead, pensions, at John Lewis Partnership, and thanked the team members transferring for their support.
David Watkins, managing director of administration at XPS, said: “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.”
Cosan Consulting provided supplier selection and transition oversight to JLP. Its co-founder Philip Dickinson said: “Partnership was a key factor in the initial selection of XPS, and that has been the case throughout the entire transition.”
How will the pensions administration market develop this year?
