TISA - Tax Incentivised Savings Association - TISA TV

STAR: a new way to define and demonstrate transfer excellence

STAR is a new collaborative way for organisations in the long-term savings and investments industry to define what excellence means in transfers and re-registration processes, and to demonstrate commitment to its implementation to consumer, government and regulatory stakeholders.

STAR is being delivered by a collaboration between Criterion and TeX, combining the industry-reach, unique strengths, experience and shared ambition of the two not-for-profit organisations.

Turning industry-wide commitment into industry-transforming reality

The Transfers and Re-registration Industry Group (TRIG), a landmark collaboration of 10 industry bodies and representatives of individual firms, delivered a cross-industry framework of good practice for improving customer experiences of moving savings and investments from one financial institution to another.

The TRIG has chosen STAR to manage the framework and support the long-term savings and investments industry in its adoption. STAR will work with industry participants to define the processes covered by that framework, specify good practice targets for each of those processes, and measure actual performance against those targets across the industry.

Get involved now to shape the future of transfers
If you are involved in the management and transfer of long-term savings and investment arrangements, including all types of Defined Contribution Pensions, ISAs and General Investment Accounts, STAR is for you.

Participating in STAR will provide
  • a voice in defining what good transfer practice looks like
  • a platform for showing to consumers and other industry stakeholders their commitment to that good practice; and
  • a showcase for demonstrating successful performance.

Participating firms will also benefit from greater certainty in dealing with transfer counterparties, leading to fewer queries and lower administration costs. And consumers will benefit from better communication, common standards, continuous improvement and greater transparency on firms' performance.

Be in great company 
Adoption of the TRIG's good practice framework is supported by government and regulators, including the Pensions Minister Guy Opperman MP, and The Pensions Regulator.

All the industry associations that comprise the TRIG - The Association of British Insurers, The Association of Member Directed Pension Schemes, The Investment Association, The Pensions Administration Standards Association, The Pensions and Lifetime Savings Association, The Personal Investment Management & Financial Advice Association, The Society of Pension Professionals, TISA, UK Finance, The UK Platform Group - endorse and recommend STAR to manage their good practice framework.

Get involved now to shape the future of transfers.

STAR will soon have its own home on the web. In the meantime, get in touch with the team to register your interest and find out how to get involved.

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