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Published 10 months ago

John Lewis to end £10m pension top-ups as scheme swings to surplus

  • The John Lewis Partnership, owner of John Lewis department stores and Waitrose supermarkets, will no longer make annual contributions to its pension scheme after it swung into surplus. This move is expected to save the company tens of millions of pounds.
  • Under the leadership of chair Dame Sharon White and newly appointed chief executive Nish Kankiwala, JLP is taking steps to transform its performance and address substantial financial losses. Their goal is to act swiftly and achieve a turnaround.
  • Despite facing tough competition and store closures, Waitrose, the supermarket chain owned by JLP, reported a sales rise of 4% for the first half of this year. However, this increase was driven by higher prices, while the actual amount of products sold had fallen.
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