L&G wins John Lewis DC pension mandate

L&G wins John Lewis DC pension mandate

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The John Lewis Partnership Trust for Pensions has appointed Legal & General as its bundled administration provider for defined contribution.

“We were impressed with the commitment of the short listed providers not only to John Lewis but to the UK defined contribution market, however at the conclusion of this process Legal & General was our unanimous preferred choice,” said Jane Newell DBE, chair of the trustee board of the John Lewis Partnership Trust for Pensions.

“We were impressed with their clarity of strategic thought, operational robustness and ability to be flexible throughout this process.”

This mandate comes as part of the trust implementing its new hybrid pension arrangement, comprising defined contribution and defined benefit. Legal & General has been chosen as a defined contribution partner after a “lengthy and robust” search.

“All such large scale engagements are made following long periods of scrutiny by potential customers and to emerge from this process as the chosen provider is testament to our proposition and our people,” said Jim Islam, executive managing director of workplace pensions and retail investments at Legal & General Investment Managers.

“We share many of the same values and we believe that our cultural alignment will make for a long and mutually beneficial partnership.”

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