FOS reports 'concerning' 20% rise in financial complaints

'It is always concerning to see complaint levels continue to rise'

Sahar Nazir
clock • 1 min read

Financial complaints have risen by 20% in the second half of 2023, according to the Financial Ombudsman Service (FOS).

The FOS said it received a total of 95,349 complaints between 1 July and 31 December 2023 compared to 79,921 complaints in the same period in 2022. "In light of the continuing economic challenges people face, it's always concerning to see complaint levels continue to rise," chief executive and chief Ombudsman Abby Thomas said. The service upheld 36% of complaints in the consumers' favour during the period, compared to 34% in the second half of 2022. It recorded 3,996 new decumulation life and pension complaints, compared to 3,842 in the same period last year, and 2,311 new complain...

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