Displaying items by tag: FOS

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.

The Financial Ombudsman Service’s uphold rate has remained steady at 35% despite a rise in complaints about financial products.

The Financial Ombudsman Service plans to freeze its fees for 2023/24 at this year’s level due to the economic pressures facing firms.

In its latest complaints data the Financial Ombudsman Service says that nearly half of the complaints it received about unregulated collective investment schemes (UCIS) were related to SIPPs.

The demise of Rowanmoor Personal Pensions this week comes as no surprise.

The news of Hartley Pensions appointment of administrators may not have come as a huge surprise given the recent restrictions imposed on them by the FCA but I believe it is of great significance for the world of SIPPs.

The FSCS has joined forces with the FCA and Financial Ombudsman Service to investigate a Telford-based pension transfer adviser with links to a Portuguese expat specialist company.

In my last article I questioned just what is “fair and reasonable” when it comes to regulation. This was prompted by a recent FOS determination involving a complaint by a Mr T. against Rowanmoor Pensions.

The Financial Ombudsman Service upheld a higher percentage of complaints in the second half of 2021 than the previous six months, latest data from the complaints handling service has revealed.

SIPP provider Heritage Pensions Limited has gone into liquidation this week after a string of upheld claims against the firm.