LONDON, 5 October 2021 – Buck, an integrated HR, pensions, and employee benefits consulting, technology, and administration services firm, has been named as Third-Party Administrator of the Year at the 2021 U.K. Pensions Awards.
The awards seek to recognise the advisers, providers, and investment managers that offer the highest level of innovation, performance, and service to occupational pension schemes and their members, and who have done the most to improve this in the past year.
Buck was awarded the accolade of Third-Party Administrator of the Year for its outstanding service, innovation, and technology developments, including its drive to be the most digitally-enabled pensions administrator in the industry. This investment has allowed Buck to maintain a single administration platform and operating model that applies to all schemes, whilst maintaining the flexibility and agility to respond to clients’ unique and evolving requirements such as data journey plan projects and GMP equalisation.
In addition, this enhanced digitisation has facilitated the innovation and development of tools such as Buck’s animated pension summaries, educational modelling, and flexible retirement modelling, with its mobile-enabled member portal helping clients engage with their members.
The award also recognises Buck’s service excellence and the expert support it provided to trustees and sponsors from the outset of the pandemic in March 2020. In response to the initial uncertainty, Buck developed an agile and proactive approach which allowed it to continue to efficiently provide pensions administration services to over 350,000 members. This proactivity included Buck’s first-to-market COVID-19 checklist, which helped Buck’s clients navigate the initial impact of COVID-19 on their pension schemes. This was an extremely successful resource, which 90% of clients used within the first week of its launch.
Buck’s ongoing excellent service delivery took place as the firm transitioned to a 100% remote-working environment, while still managing to increase its pensions administration revenues by over 15%.
David Piltz, Managing Director at Buck in the U.K., comments:
“The Buck team have continued to go above and beyond for members, deliver scheme objectives, and be a trusted strategic partner for both our existing and many new clients. We’re delighted to have Buck’s work and the dedication of our employees in these exceptional times recognised by this award.
“A great deal has been asked of pension administrators since the start of the pandemic, which challenged the long-standing administrative operating models that many schemes relied on. As a result, we’ve had to work hard to support our clients, acting quickly and nimbly to meet the needs of trustees and their pension scheme members.
“Our successful blend of expert teams and digital interaction with members remains paramount as we continue to implement innovative and market leading solutions.”
About Buck
Buck is an integrated HR, pensions, and employee benefits consulting, technology, and administration services firm. Founded more than 100 years ago as an actuarial consultancy, we’ve evolved to serve organisations and Trustees across the health, wealth, and career spectrum.
With the ultimate goal of securing the futures of our clients’ employees and members, we develop tech-enabled programmes that engage individuals and drive organisational performance. Our award-winning engagement solutions and people-first approach empower the world’s most forward-thinking organisations to protect the physical and financial wellbeing of their employees and members and improve how their people work and live. For more information, visit www.buck.com.
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