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UK complaints data

July to December 2018

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 within 3 days Percentage closed after 3 days but within 8 weeks Percentage upheld Main cause of complaints opened

Banking and credit cards

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Home finance

3.78

4

6

17%

17%

33%

Advising, selling and arranging.

Insurance and pure protection

0.13

131

148

17%

82%

34%

General admin/ customer service

Decumulation and pensions

2.28

114

112

14%

82%

68%

General admin/ customer service

Investments

1.01

385

389

22%

77%

57%

General admin/ customer service

Credit related

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Totals

0.45

634

655

20%

79%

53%

General admin/ customer service

To put the figures above into context:

  • As of 31 December 2018 we had 1,059 Home Finance accounts. For every 1,000 accounts we received 3.78 complaints.
  • We recorded 131 Insurance and Pure Protection complaints against a total of 980,994 policies. For every 1,000 policies we received 0.13 complaints.
  • We recorded 114 Decumulation, Life and Pensions against a total of 49,992 policies. For every 1,000 policies we received 2.28 complaints.
  • We recorded 385 Investments complaints against a total of 380,607 accounts. For every 1,000 policies we received 1.01 complaints.

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