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UK complaints data

July to December 2020

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

0

7

5

0%

20%

0%

Advising, selling and arranging.

Insurance and pure protection

0.25

317

 358

4.5%

79%

73%

General admin/ customer service

Decumulation and pensions

3.44

419

545

3%

70%

83%

General admin/ customer service

Investments

3.75

655

690

5%

80%

74%

General admin/ customer service

Credit related

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Totals

0.99

1398

1598

4%

76%

77%

General admin/ customer service

To put the figures above into context, as of 31st December 2020 we had recorded:

  • 7 Home finance account compliants against a total of 0 policies. For every 1,000 accounts we received 0complaints.
  • 317 Insurance and Pure Protection complaints against a total of 1,087,725 policies. For every 1,000 policies we received 0.25 complaints.
  • 419 Decumulation, Life and Pensions against a total of 128,054 policies. For every 1,000 policies we received 3.44 complaints.
  • We recorded 655 Investments complaints against a total of 198,675 accounts. For every 1,000 policies we received 3.75 complaints.

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