RegSol Blog


Financial Services and Pensions Ombudsman (FSPO) – Complaints Analysis

September 2021

Earlier this year, the FSPO published its overview of complaints that they received and mediated on in 2020. This totalled to 5,395 of which 58% of these were received online.

An increase in the number of complaints closed was up 35% from 2019. Of 6,193 complaints closed in 2020 (includes complaints received prior to 2020), the FSPO have published the following:

  • 2,960 complaints were resolved through the Dispute Resolution Process
  • 1,401 complaints were closed following registration and referral to providers
  • 494 legally binding decisions were issued. Of these, only 171 were fully upheld
  • 428 complaints were withdrawn during the process
  • 327 cases were closed following determination under the Early Jurisdictional Assessment (EJA) process.

The complaints relate to the following industries:
  • Investment – 6%
  • Banking – 56% (more than 50% of banking complaints related to mortgages)
  • Insurance – 32% (most of which related to motor insurance)
  • Pension Schemes – 4%
  • 2% of complaints could not be categorised due to not enough data being available.

The top 6 complaints relating to Insurance in 2020 related to the following conducts:
  • Claims handling – 9%
  • Disputed transactions – 5%
  • Customer service – 4%
  • Delays in processing requests – 4%
  • Communication – 4%
  • Rejection of claim – 3%.

The FSPO will continue to have a more direct interaction with consumers and providers to ensure faster resolution of issues and a smoother service provided.

The FSPO is currently developing its strategic plan for 2021-2023.

The full overview of complaints for 2020 is available on the FSPO website through the link below:
Overview of Complaints