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.
The Financial Ombudsman Services has upheld the majority of SIPP complaints it received over the past year and warned that it continues to see a large number of SIPP complaints amid a rise in overall investment and pensions cases.
Scottish Widows has been ordered to compensate a client after a rule change around overseas pension transfers led to him being hit by an unnecessary 25% per cent tax charge.
SIPP and platform provider AJ Bell has been forced to pay £500 to a customer to compensate for loss of interest.
In a 2018/19 budget consultation paper released today the Financial Ombudsman Service (FOS) has warned that it is expecting to receive more complaints than the budget it has available to deal with them.
An ombudsman has ruled in favour of a widow who complained about a pensions firm, ordering it to pay nearly £80,000 in lump sum death benefits.
The Pensions Ombudsman has told a firm it must pay out after a client complained about the “incorrect and inconsistent valuation of his pension fund”.
The Financial Ombudsman Service has ruled in favour of a client who complained over advice to transfer the value of his protected rights into a new Sipp.
The Financial Ombudsman is set to release figures tomorrow showing a rise of approximately 50% in the number of Sipp complaints it has received in the past year, with growing concerns about Ucis.