FOS SIPP complaints jump a third in less than a year

2,802 new SIPP cases

Hannah Godfrey
clock • 1 min read

Complaints to the Ombudsman relating to self-invested personal pensions (SIPPs) jumped by nearly two-fifths (37%) in the period from April to December 2018, compared with the 2017/18 financial year.

Figures released by the Financial Ombudsman Service (FOS) this morning (5 February) showed 2,802 new SIPP-related cases were opened between April and December 2018, compared with 2,051 new cases opened in the 12 months to April 2018. At 3,186, meanwhile, the number of SIPP-related enquiries received by the ombudsman over the eight-month period broadly matched the 3,215 received in the whole 2017/18 financial year. The latest Ombudsman News report, which published the figures, also showed between October and December 2018 (Q3) the FOS received 161,195 enquiries and took on 92,903 new c...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Verso rejects platform incentives model, says adoption must be earned

Verso rejects platform incentives model, says adoption must be earned

Nucleus-built platform rolled out across advice group with no mandated use as consolidator targets £5bn AUM

Sahar Nazir
clock 27 June 2025 • 2 min read
Number of highly vulnerable clients slides

Number of highly vulnerable clients slides

Dynamic Planner research finds

Jen Frost
clock 27 June 2025 • 2 min read
Anthony Carty: Why the nuance of private equity in advice matters

Anthony Carty: Why the nuance of private equity in advice matters

When done right, PE can help deliver sustainable growth for the whole market

Anthony Carty
clock 27 June 2025 • 4 min read