The Financial Ombudsman Service (FOS) has upheld 58% of the British Steel-related complaints it has so far completed.
According to a Freedom of Information (FOI) request submitted by Professional Adviser, the FOS has currently resolved 69 complaints relating to the British Steel Pensions Scheme (BSPS). Of those 69 cases, 56 were resolved informally by investigators and 13 through final decisions issued by ombudsmen. At the moment, the FOS is looking into a total of 319 BSPS cases. These complaints involve advice to transfer out of the defined benefit (DB) scheme and issues with administration support. The FOS also said it has closed and transferred 135 cases to the Financial Services Compensation Sc...
To continue reading this article...
Join Professional Adviser for free
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
