Displaying items by tag: complaints
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.
Nearly dozen pension transfer advisers fail this year
The FSCS has declared pension transfer adviser Portal Financial Services LLP (FRN501272) as failed after the firm went into compulsory liquidation following a string of complaints.
FOS plans fee freeze despite expected rise in pension cases
The Financial Ombudsman Service plans to freeze its fees for 2023/24 at this year’s level due to the economic pressures facing firms.