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Good for you. Good for consumers

Consumers benefit from knowing their provider is part of the STAR scheme, and can expect better communication, universal standards, continuous improvement and improved transparency.

Participating firms benefit from greater certainty when dealing with other providers, leading to fewer queries and reduced administration costs.

"We are strongly supportive of STAR continuing to pursue the full MI and its publication. Improving transfer times remains a priority for the FCA and we have already committed to a review in 2022 of STAR’s progress against its outcomes. If any IT changes are required to meet STAR requirements, we expect firms to budget and plan for it accordingly. We would like to remind firms we will consider taking further action if there is not a demonstrable improvement in the outcomes for consumers transferring."

FCA - April 2021

An initiative supported by government

With over 60 million* individual policies and accounts in the UK and the ongoing growth in transfers, the government is keen that the industry commits to the new standards and that firms participate in the scheme.

“I welcome this initiative and the progress made so far in speeding up transfers. For many members, moving money is straightforward but for some others, it’s far from effective and I’d urge firms to commit to the Transfers and Re-registration Industry Group TRIG framework.”

Guy Opperman, Minister for Pensions and Financial Inclusion

STAR members can get involved through various STAR groups and projects.

These organisations have already committed their support in principle to STAR. Why not join them?

Criterion was formed for the industry in July 2017, as an independent, not-for-profit industry body for Standards and Governance. It was originally part of Origo Services Ltd and has been publishing standards for over 25 years.

TISA Exchange Limited (TeX) has been established to help facilitate the electronic transfer of wrappers and assets between fund managers, platforms, wealth managers and any firm which holds assets on behalf of investors.

© 2021 CT Holdings and Services Limited (CTHS), a joint venture between TISA Exchange Limited and Criterion Tec Limited.

All rights reserved. Company number: 11700872.