Upheld Sipps complaints on the increase

The proportion of Sipp complaints upheld during this financial year is higher than the last, with one quarter still to go. The Financial Ombudsman Service released the latest statistics this morning, which showed 56% of cases from April to December 2016 were upheld.In the full financial year for 2015/16, 54% of Sipps complaints were upheld.There have been 1385 enquiries on Sipps, including 1042 new cases, of which 347 went to the Ombudsman from April to December 2016.In the October to December period, there were 408 enquiries, including 380 new cases, of which 140 went to the Ombudsman. Some 47% of these were upheld.In 2015/16 there were 1765 enquiries, including 1283 new cases, of which 500 went to the Ombudsman.For personal, there were 2620 enquiries, including 1431 new cases, of which 264 went to the Ombudsman Ombudsman from April to December 2016. Some 30% of complaints were upheld.For annuities, there were 599 enquiries, including 406 new cases, of which 73 went to the Ombudsman Ombudsman from April to December 2016. Some 24% of complaints were upheld.Between October and December 2016 FOS:• handled 122,284 enquiries from consumers, taking on 70,908 new cases – with 9,642 complaints passed to an ombudsman for a final decision.• PPI remained the most complained-about financial product, with 36,065 new cases. Packaged bank accounts were the second most complained about product, with 3,785 new cases.

Upheld Sipps complaints on the increase

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