What is Freestyle?

The Freestyle option allows you to choose where you want to invest your individual account. There are 13 funds to choose from and you can decide the mix that is right for you: you don’t have to invest all of your individual account in one fund.

What is a fund?

Broadly speaking, there are five different types of fund available under the Sky Pension Plan.

Bond funds 

A bond investment is a loan made to companies (bonds) or governments (gilts). Investors typically receive a fixed return on their investment or ‘interest’ on their loan. There are also index-linked gilts, linked to inflation – they don’t offer a fixed return.

Bonds and gilts typically give lower returns over a longer period than equities, but their performance is typically steadier than equities over the long term. This means they are often used to protect against the changing price of annuities.

Cash funds

Cash funds provide returns from short-term loans, such as cash deposits. Unlike bank deposits, prices can go up and down over time.

Such funds offer protection against stock market falls rather than offering long-term growth

Diversified growth funds

Diversified growth funds spread investment risk by investing in a wide range of assets, which can include equities, bonds, property and cash.

They are expected to go up and down less in value than pure equity funds, but have a lower potential return.

Equity funds

An equity is another name for a share in a company. Equities are traded on stock exchanges and the prices can go up and down.

They are expected to generate higher returns over the long term than bonds or cash, but carry a higher investment risk because their value may rise and fall rapidly.

Property funds

These funds attempt to make money by buying, selling and leasing commercial property.

Returns from property funds are generally higher than bonds, but lower than equities. They’re normally used as part of a long-term investment strategy.

Important information about the M&G Property Fund

Are you currently invested in the M&G Property Fund? We need to make you aware that M&G have announced they are closing this Fund, which means that:

  • You can no longer make any additional investment into the Fund. This includes switches from other funds, as well as any further contributions. If you have been paying regular contributions into this fund up to now, as an Active Plan member, we will contact you separately to advise you of your options.
  • You cannot withdraw money from the fund immediately. M&G will be managing the fund closure over a period of time (likely to be several months), and will be managing fund withdrawals in a staged process. This means that currently you cannot switch your holdings from the M&G Property Fund to another Fund within the Sky Pension Plan, or draw your benefits from this Fund, or transfer these holdings to another pension arrangement. If you are currently invested in the Fund, we will contact you in due course to let you know how the fund closure process will work, and the options you will have.
  • You can still see the value of your investment in the Fund, by logging onto the Portal.

If you would like more information or to discuss your options within the Plan, please contact the Administration Team at SPP@buck.com.

How the funds are managed

Each fund is managed either actively or passively.

The table below lists the 13 funds and the level of risk associated with each fund. Clicking on the name of each fund will take you to a brief description of that fund, including whether it is actively or passively managed. To find out more about risk, click here.

Low Risk Medium Risk High Risk


See latest Freestyle performance here

Financial advice

It’s very important to take financial advice, especially with matters that will affect your retirement. For a full list of resources available to you regarding your pension decisions, head to the Useful resources page of the site.