Displaying items by tag: complaints
FOS says fraud and scam complaints at record level
The Financial Ombudsman Service has reported a record 8,734 fraud and scam cases in just a three-month period this year, the highest ever quarterly level.
Fewer professional reps submitting pension claims
The percentage of professional complaints about pensions and annuities to the Financial Ombudsman Service - including from claims management companies - showed a surprise fall in the latest quarterly period, in marked contrast to a surge in professional complaints overall.
Pension and decumulation complaints up at FOS
The Financial Ombudsman Service received a total of 95,349 complaints between 1 July and 31 December 2023 compared to 79,921 complaints in the same period in 2022.
FOS expects 30,000 more complaints in 2024/25
The Financial Ombudsman Service is forecasting that the number of complaints it is set to receive this year will hit 210,000 - nearly 30,000 higher than it predicted in December.
SIPP and personal pension complaints soar
There was a near 10,000 rise in the number of complaints about SIPPs and non-workplace pensions in the first half of 2023, according to the latest FCA Complaints Data report.
3 adviser firms fail due to pension complaints
The FSCS has declared three financial adviser firms as failed, opening the door to compensation claims from ex-clients.
FOS to freeze case fee at £750
The Financial Ombudsman Service is to freeze its individual case fee at £750 for a third year as its strives to reduce the financial strain of its services on regulated firms.
FOS to raise compensation limit to £415,000
The consumer complaints body the Financial Ombudsman Service is to increase its maximum compensation award from £375,000 to £415,00 from 1 April.
Pension and investment complaints fall 8%
The number of complaints about life and pension and investment companies fell by 8% during 2022, according to the latest data from the Financial Ombudsman Service.
FOS upholding 35% of complaints
The Financial Ombudsman Service’s uphold rate has remained steady at 35% despite a rise in complaints about financial products.