Complaints to the Financial Ombudsman Services about self-invested personal pensions (SIPP) have almost doubled in number during the past year.
Latest figures from the FOS showed it opened 922 new cases in the first quarter of the 2018/19 year (April to June 2018). This compared to 521 new cases in the same period for 2017/18. It said SIPP-related enquiries were also up from 678 last year to 1,107. Some 59% of cases were upheld this year compared to 50% during the same period last year. The uphold rate for SIPP gripes was the highest among all products listed on the complaints data, released this morning. In total, the FOS received 183,199 enquiries and 107, 827 new complaints - with 11, 371 complaints passed to an ombudsm...
To continue reading this article...
Join Professional Adviser
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.
