John Lewis's Trust for Pensions appoints new Chair of Trustees
The John Lewis Partnership Trust for Pensions has appointed Sarah Bates as Chair of the Trustee from 1 August 2020.
Bates will replace Dame Jane Newell, who has stepped down after being Chair since 2013.
She joins with over 35 years of experience in investment management, which includes specialist expertise in pensions through roles as a Committee member, Trustee and Chair.
She has chaired several organisations in the investment and savings sector, is currently an independent member of the Investment Committees of the BBC Pension Scheme and is a co-founder of the Diversity Project and Chair of the Diversity Project charity.
In a statement Sarah Bates said: “I am very pleased to be appointed as Chair of the John Lewis Partnership Trust for Pensions and look forward to working with the John Lewis Partnership to continue to develop the pension scheme for the coming years.”
The John Lewis Partnership pension scheme now only has an open defined contribution scheme, with the defined benefit section having been closed at the end of March following a year-long review and consultation with the retailer’s partners.
Each Trustee has a legal responsibility to act in the best financial interests of the members of the pension scheme.
Last week, John Lewis announced it expects to be a 60% online retailer, compared to 40% pre-COVID-19.
John Lewis recently appointed Nikki Humphrey as Executive Director for People, joining the company from Virgin Atlantic where she is Chief People Officer.