The Financial Ombudsman Service (FOS) has reported a 39% increase in overall complaints against financial products, with increases in claims related to self-invested person pensions (SIPPs), personal pensions and annuities.
New complaints about SIPPs rose to 176 during the three months from July to September, up from 132 for the previous quarter. Personal pensions complaints jumped to 381 from 330, and problems with annuities generated 125 claims in the period, up from 120 during the three months to June. State earnings-related pension (SERPs) caused 115 new complaints, up from 112, and occupational pension transfers and opt-outs led to 88 claims, a slight rise from 83. Average complaint figures about investment products are a mixed bag, with some products sending figures higher while others show sign...
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