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UK complaints data

July to December 2021

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

1

1

0%

0%

0%

Advising, selling and arranging.

Insurance and pure protection

0.27

302

 243

8%

83%

54%

General admin/ customer service

Decumulation and pensions

3.87

429

377

2%

83%

90%

General admin/ customer service

Investments

3.78

749

460

 

0%

95%

73%

General admin/ customer service

Credit related

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Totals

1.04

 

1481

1081

2%

88%

74%

General admin/ customer service

To put the above figures into context, as of 31st December 2021 we had recorded:

  • 1 Home Finance account complaints against a total of 0 policies. For every 1,000 accounts we received 0 complaints.
  • 302 Insurance and Pure Protection complaints against a total of 1,118,848 policies. For every 1,000 accounts we received 0.27 complaints.
  • 429 Decumulation, Life and Pensions complaints against a total of 110,734 policies. For every 1,000 accounts we received 3.87 complaints.
  • 749 Investment complaints against a total of 198,033 policies. For every 1,000 accounts we received 3.78 complaints.

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