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UK complaints data

January to June 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

0.88

1

2

0%

0%

0%

Insurance and pure protection

0.15

138

132

10%

89%

42%

Decumulation and pensions

3.93

158

162

8%

85%

86%

Investments

0.82

274

269

30%

68%

49%

Credit related

N/A

N/A

N/A

N/A

N/A

N/A

Totals

0.44

571

565

19%

78%

58%

To put the figures above into context:

  • As of 30 June 2017 we had 1,138 Home Finance accounts. For every 1,000 accounts we received 0.88 complaints.
  • We recorded 138 Insurance and Pure Protection complaints against a total of 911,505 policies. For every 1,000 policies we received 0.15 complaints.
  • We recorded 158 Decumulation, Life and Pensions against a total of 40,235 policies. For every 1,000 policies we received 3.93 complaints.
  • We recorded 274 Investments complaints against a total of 332,213 accounts. For every 1,000 policies we received 0.82 complaints.