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UK complaints data

January to June 2019

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

0.94

1

1

0%

100%

0%

Advising, selling and arranging.

Insurance and pure protection

0.15

147

142

17%

82%

32%

General admin/ customer service

Decumulation and pensions

1.46

81

87

8%

86%

69%

General admin/ customer service

Investments

1.16

433

442

18%

80%

71%

General admin/ customer service

Credit related

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Totals

0.49

662

672

16%

81%

62%

General admin/ customer service

To put the figures above into context:

  • As of 30 June 2019 we had 1,059 Home Finance accounts. For every 1,000 accounts we received 0.94 complaints.
  • We recorded 147 Insurance and Pure Protection complaints against a total of 955,594 policies. For every 1,000 policies we received 0.15 complaints.
  • We recorded 81 Decumulation, Life and Pensions against a total of 55,318 policies. For every 1,000 policies we received 1.46 complaints.
  • We recorded 433 Investments complaints against a total of 372,962 accounts. For every 1,000 policies we received 1.16 complaints.

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