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Write 4 pages with APA style on Marks and Spencer and John Lewis Pension Schemes.
Write 4 pages with APA style on Marks and Spencer and John Lewis Pension Schemes. Until now workers of M&.S did not have to make any contribution towards their own pension from their salary and they were entitled to a small part of their final salary as retirement income. Thus compared with John Lewis pension scheme in which workers do not have to make contributions towards the final salary scheme and retirement income from their existing salaries, Marks &. Spencer pension scheme has changed so that workers will have to make a final contribution towards their final salary scheme or they may receive lowered benefits later.
There are conflicts of interest between employees and trustees in both John Lewis and Marks and Spencer. However John Lewis is a partnership business which means it is largely controlled by employees. The employee trusts adequately maintain the benefits of employee ownership structures and in case of John Lewis there is breakdown of the strict dichotomy between employees and trustees with employees having direct ownership to an extent. However in case of Marks&. Spencer, the trustees are responsible for funding and the pension scheme and the employee trustee distinction is quite obvious with both potential and real conflicts within Marks and Spencer.
