Sky appoints Buck to provide multiple services to its DC pension plans
Buck, an integrated HR and benefits consulting, technology, and administration services firm, has been appointed to manage two defined contribution (DC) pension plans for Sky, a direct-to-consumer media and entertainment company.
The larger Sky Pension Plan has around 43,000 active and deferred members, while the smaller Republic of Ireland plan has around 1,000 members.
Sky was looking for a trusted and enthusiastic partner with a complementary company culture, one who could provide best-in-class expertise for its plans. Buck was appointed to the role after a successful tender process, which highlighted the firm’s technological experience, analytical approach, and commitment to partnership.
Buck will provide a range of services for the two plans, including administration, consultancy, DC strategy, trustee secretarial services, and focused member communications. Buck carried out the full transition of the plans from the previous administrator during the UK’s COVID lockdown. Despite the size of the project and the unexpected conditions, the transition was completed entirely within the agreed pre-COVID timelines.
David Piltz, UK Managing Director of Buck, says: “We’re delighted to be partnering with Sky, a prestigious company and one whose culture matches our own so well. Taking on a plan with more than 43,000-members during an unforeseen global pandemic and nationwide lockdown was not a simple task, and our exceptional people completed this transition expertly and on time during very difficult circumstances. We’re proud to have demonstrated to Sky that their needs remained a key focus throughout the implementation — a great way to start a new relationship.”