UK complaints data

January to June 2016

In the UK, the Financial Conduct Authority (FCA) requires financial services firms to report on the number of UK FCA reportable customer complaints they receive on a half yearly basis. This includes capturing expressions of dissatisfaction and aiming to resolve complaints within eight weeks. If complaints remain unresolved after eight weeks or if a customer is dissatisfied with our final response, they have the option to refer their complaint to the Financial Ombudsman Service (FOS). The FOS also publishes a half yearly report on financial services complaints they receive.

Number of complaints opened by volume of business

Product / service grouping Provision per '000 (at reporting period end date) Number of complaints opened Number of complaints closed Percentage closed after 3 days but within 8 weeks Percentage upheld
Banking and credit cards N/A N/A N/A N/A N/A
Home finance 0.77 1 1 100% 0%
Insurance and pure protection 0.07 64 62 100% 23%
Decumulation and pensions 1.03 352 325 99% 53%
Investments 1.62 90 94 99% 43%
Credit related N/A N/A N/A N/A N/A
Totals 0.39 507 482 99% 47%

To put the figures above into context:

  • As of 30 June 2016 we had 1,299 Home Finance accounts. For every 1,000 accounts we received 0.77 complaints.
  • We recorded 64 Insurance and Pure Protection complaints against a total of 892,648 policies. For every 1,000 policies we received 0.07 complaints.
  • We recorded 352 Decumulation, Life and Pensions against a total of 340,566 policies. For every 1,000 policies we received 1.03 complaints.
  • We recorded 90 Investments complaints against a total of 55,415 accounts. For every 1,000 policies we received 1.62 complaints.