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UK complaints data

January to June 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

2.03

2

3

0%

33%

0%

Advising, selling and arranging.

Insurance and pure protection

0.25

267

220

12%

78%

64%

General admin/ customer service

Decumulation and pensions

3.62

440

328

7%

68%

77%

General admin/ customer service

Investments

3.75

746

656

17%

77%

71%

General admin/ customer service

Credit related

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Totals

1.04

1455

1207

13%

74%

71%

General admin/ customer service

To put the figures above into context:

  • As of 30th June 2020 we had 983 Home Finance accounts. For every 1,000 accounts we received 2.03 complaints.
  • We recorded 267 Insurance and Pure Protection complaints against a total of 1,074,092 policies. For every 1,000 policies we received 0.25 complaints.
  • We recorded 440 Decumulation, Life and Pensions against a total of 121,543 policies. For every 1,000 policies we received 3.62 complaints.
  • We recorded 746 Investments complaints against a total of 199,120 accounts. For every 1,000 policies we received 3.75 complaints.

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