DB transfer complaints to ombudsman jump 44% in 2020

Jump from 554 in 2019

Sophie King
clock • 2 min read

The Financial Ombudsman Service (FOS) received 44% more defined benefit (DB) transfer complaints in 2020 than it did in 2019.

A Freedom of Information (FOI) request submitted by Professional Adviser found the FOS, which categorises complaints about DB transfers as occupational pension transfers in its systems, received approximately 554 new complaints in 2019, where the complaint issue contained the word ‘mis-sale'. The FOS said that any complaints about unsuitable advice given by financial advisers are likely to contain the word ‘mis-sale'. This includes complaints surrounding appropriateness, condition of lending, pressurised sale, product not explained, recommendation letter, suitability report or the suitab...

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

Advisers on cash ISA allowance cut: Move welcome but education concerns persist

Advisers on cash ISA allowance cut: Move welcome but education concerns persist

Limit cut from £20,000 to £12,000 confirmed in Autumn Budget today

Sahar Nazir
clock 27 November 2025 • 3 min read
Reeves promises to not 'return back to austerity' in pre-Budget message

Reeves promises to not 'return back to austerity' in pre-Budget message

'Biggest drive for growth in a generation'

Michael Nelson
clock 26 November 2025 • 1 min read
Nearly half of advised HNW clients unaware of CGT allowance

Nearly half of advised HNW clients unaware of CGT allowance

Charles Stanley finds

Sahar Nazir
clock 25 November 2025 • 2 min read