FOS reports rise in annuity and income drawdown complaints

FOS half yearly complaints data listed 408 new annuity claims and 108 income drawdown gripes in the months April to September. Although uphold rates - the number of cases the FOS decides in favour of the consumer - were down, numbers of new cases grew faster than in the previous year, when the FOS received 601 complaints about annuities and 169 new income drawdown cases within 12 months (April 13 - March 2014). The FOS received 624 annuity claims in 2012/13 and 511 in the year before. It received 189 income drawdown cases in 2012/13 and 94 in the previous year. The FOS only lists t...