Complaints about pensions dealt with by the Financial Ombudsman Service (FOS) have fallen markedly year on year, figures show, with the impending changes to legislation cited as a possible explanation for the drop.
Complaints statistics for the period from October to December last year show the service reviewed 157 new cases related to self invested personal pensions, compared with 393 new cases in the same period in 2013. New complaints about personal pensions were also down - from 372 to 248 - while gripes related to income drawdown fell from 43 to below 30. Complaints linked to occupational pension transfers were down from 112 cases to 101 cases. Only annuity gripes recorded an increase in the pensions space, with 150 new cases brought to the FOS at the end of last year compared with 111 i...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
