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UK complaints data

July to December 2017

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

Banking and credit cards

N/A

N/A

N/A

N/A

N/A

N/A

Home finance

0.89

1

2

0%

0%

0%

Insurance and pure protection

0.15

140

152

22%

77%

38%

Decumulation and pensions

2.41

100

108

22%

75%

82%

Investments

1.08

353

361

34%

65%

60%

Credit related

N/A

N/A

N/A

N/A

N/A

N/A

Totals

0.45

594

623

29%

70%

59%

To put the figures above into context:

  • As of 31 December 2017 we had 1,125 Home Finance accounts. For every 1,000 accounts we received 0.89 complaints.
  • We recorded 140 Insurance and Pure Protection complaints against a total of 956,587 policies. For every 1,000 policies we received 0.15 complaints.
  • We recorded 100 Decumulation, Life and Pensions against a total of 41,434 policies. For every 1,000 policies we received 2.41 complaints.
  • We recorded 353 Investments complaints against a total of 326,459 accounts. For every 1,000 policies we received 1.08 complaints.

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