FOS annuity complaints continue to rise

There were 245 new cases handled by the FOS between April and June, up a third on the corresponding period last year. In the four quarters prior to the announcement of the retirement reforms in April 2014, the average number of annuity cases was 150. A complaint is only handled by the FOS if it is unsettled at firm level. The Service's annual figures for 2014-15, published in May, indicated a rising trend in annuity gripes following the government's pension reforms. The Chancellor announced in his 2014 Budget speech he would open up the retirement income space, allowing savers u...