Complaints about self-invested personal pensions (SIPPs) fell slightly in the second quarter of 2017/18 after rocketing up in the first quarter of the financial year, according to the Financial Ombudsman Service (FOS).
The ombdudsman received 498 new SIPP complaints in Q2 and upheld almost half of them (49%), compared with the 521 new cases received in Q1, of which 50% were upheld. Despite the quarter-on-quarter dip, the 498 new cases seen in Q2 is still well up on the average 371 the FOS saw per quarter in 2016/17 and 274 every three months in the financial year before that. That said, the FOS's average uphold rate of 56% per quarter in 2016/17 was higher than the respective 50% and 49% rates seen so far in the first two quarters of this financial year. In April, the FOS said it expected to rece...
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