diff --git a/server/CHANGELOG.md b/server/CHANGELOG.md
index f51386f700..8284dda859 100644
--- a/server/CHANGELOG.md
+++ b/server/CHANGELOG.md
@@ -4,6 +4,7 @@
 
 ### Fixed
 
+- Pandas: the `pivot` step now keeps null values in index columns and handle them as any other values.
 - Pandas & Pypika: the `count` aggregation of the aggregate step now properly counts nulls
 
 ## [0.48.6] - 2024-12-11
diff --git a/server/src/weaverbird/backends/pandas_executor/steps/pivot.py b/server/src/weaverbird/backends/pandas_executor/steps/pivot.py
index 657ac65127..ee980a9182 100644
--- a/server/src/weaverbird/backends/pandas_executor/steps/pivot.py
+++ b/server/src/weaverbird/backends/pandas_executor/steps/pivot.py
@@ -1,8 +1,11 @@
+from numpy import nan as nan_value
 from pandas import DataFrame
 
 from weaverbird.backends.pandas_executor.types import DomainRetriever, PipelineExecutor
 from weaverbird.pipeline.steps import PivotStep
 
+PIVOT_NULL_VALUE = "__WEAVERBIRD_PIVOT_NULL_VALUE__"
+
 
 def execute_pivot(
     step: PivotStep,
@@ -10,11 +13,21 @@ def execute_pivot(
     domain_retriever: DomainRetriever = None,
     execute_pipeline: PipelineExecutor = None,
 ) -> DataFrame:
+    # Create alias for null values in indexed columns before running pivot to avoid removing null values
+    for idx_column in step.index:
+        df[idx_column] = df[idx_column].fillna(PIVOT_NULL_VALUE)
+    df[PIVOT_NULL_VALUE] = nan_value
+
     pivoted_df = df.pivot_table(
         values=step.value_column,
         index=step.index,
         columns=step.column_to_pivot,
         aggfunc="mean" if step.agg_function == "avg" else step.agg_function,
     ).reset_index()
+
+    # Replace alias with null value
+    for idx_column in step.index:
+        pivoted_df[idx_column] = pivoted_df[idx_column].replace(PIVOT_NULL_VALUE, nan_value)
+
     pivoted_df.columns.name = None
     return pivoted_df
diff --git a/server/tests/backends/fixtures/pivot/with_nulls.yaml b/server/tests/backends/fixtures/pivot/with_nulls.yaml
new file mode 100644
index 0000000000..3bfaa54bfa
--- /dev/null
+++ b/server/tests/backends/fixtures/pivot/with_nulls.yaml
@@ -0,0 +1,68 @@
+exclude:
+- athena_pypika
+- bigquery_pypika
+- mysql_pypika
+- postgres_pypika
+- redshift_pypika
+- snowflake_pypika
+step:
+  pipeline:
+  - name: pivot
+    index:
+    - LABEL
+    - TYPE
+    column_to_pivot: ALPHA
+    value_column: COST
+    agg_function: sum
+input:
+  schema:
+    fields:
+    - name: LABEL
+      type: integer
+    - name: TYPE
+      type: string
+    - name: COST
+      type: integer
+    - name: ALPHA
+      type: string
+    pandas_version: 0.20.0
+  data:
+  - LABEL: 1
+    TYPE: PARENT
+    COST: 5
+    ALPHA: ALPHA
+  - LABEL: 2
+    TYPE: PARENT
+    COST: 100
+    ALPHA: ALPHA
+  - LABEL: 1
+    TYPE:
+    COST: 2
+    ALPHA: ALPHA
+  - LABEL: 2
+    TYPE:
+    COST: 28
+    ALPHA: ALPHA
+expected:
+  schema:
+    fields:
+    - name: LABEL
+      type: integer
+    - name: TYPE
+      type: string
+    - name: ALPHA
+      type: integer
+    pandas_version: 0.20.0
+  data:
+    - LABEL: 1
+      TYPE: PARENT
+      ALPHA: 5
+    - LABEL: 1
+      TYPE:
+      ALPHA: 2
+    - LABEL: 2
+      TYPE: PARENT
+      ALPHA: 100
+    - LABEL: 2
+      TYPE:
+      ALPHA: 28
diff --git a/server/tests/steps/test_pivot.py b/server/tests/steps/test_pivot.py
index c9d32d4fa2..62e5b44a76 100644
--- a/server/tests/steps/test_pivot.py
+++ b/server/tests/steps/test_pivot.py
@@ -72,7 +72,7 @@ def test_benchmark_pivot(benchmark):
 
     step = PivotStep(
         name="pivot",
-        index=["group"],
+        index=["id"],
         column_to_pivot="group",
         value_column="value",
         agg_function="avg",