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STAR Pension Working Group commences

Press Release

STAR Pension Working Group commences

26 August 2019

STAR participants met for the first Pensions Working Group in London on Thursday 22 August at the Associate of British Insurers (ABI) offices in London.

This was the first of a series of workshops, focussing on personal pensions and SIPPs and follows the ISA/GIA workshops, which have progressed well over the last 3 months.

STAR now has 46 organisations committed to shaping recognised, industry-wide standards to promote good practice in
transfers.

The STAR remit is clearly defined and will:

  • Define the processes required to complete a transfer
  • Specify good practice targets for each of those processes
  • Measure, recognise and accredit performance excellence across the industry.

"The first STAR working group on pensions was extremely well attended, with 45 delegates from across the industry. Several stop the clock scenarios were discussed relevant to particular stages and requirements in the transfer process, along with the need for accurate recording and reporting in those areas. The finer detail will be defined by the group during the process of determining good practice and will require the approval from the STAR steering group. I was delighted with the level of engagement and industry collaboration is key to enact change and to improve the transfer experience for consumers.”

Matthew Dransfield, Commercial and Marketing Director, Criterion

Notes

For further information please contact:

Matthew Dransfield
Commercial and Marketing Director
Criterion
0773 765 0010
media@criterion.org.uk

About STAR

STAR was created as a collaboration between Criterion and TeX, combining the industry-reach, unique strengths, experience and shared ambition of the two not-for-profit organisations.

Criterion was formed for the industry in July 2017, as an independent, not-for-profit industry body providing Standards and Governance services. It was originally part of Origo Services Ltd and has been publishing process and integration standards for over 25 years. Criterion is uniquely positioned to facilitate and drive cross-industry engagement, helping organisations achieve higher levels of collaboration, reduce costs and achieve better outcomes for their consumers.

TeX is a not-for-profit organisation which works with the industry to ensure that the maximum benefit is provided to all members. This new company is financially independent from TISA but benefits from being linked to the TISA brand through name, the expertise provided by the two corporate entity directorships and the administrative support provided by TISA.

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

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