View more on these topics

Complaints down by a third

Complaints to the Pensions Ombudsman from occupational scheme members fell by 30 per cent in 2005/06 compared with figures for the previous year.

The annual report shows that the ombudsman received 2,790 new written enquiries to add to 360 brought forward from the previous year, with 2,821 being dealt with during the year.

The ombudsman started 937 investigations and closed 1,226. This is down slightly from last year but Pensions Ombudsman David Laverick says he has been forced to work out of temporary offices with “a rudimentary IT system”.

The most common closed investigations were transfers, calculation of benefits and misleading advice by trus- tees, which showed a slight increase from 2004/05.
Laverick says he has no idea why complaints have fallen after rising by 30 per cent in the last two years but intense media coverage of pensions means the dip has nothing to do with decreased scrutiny.

He says efficiency has been hampered by working in temporary premises while its offices are refurbished but this has now been addressed.

Laverick says: “My staff have largely overcome the adversities of coping with an IT system on the point of collapse and camping out in temporary accommodation.”

Recommended

Pru targets churners

Prudential is looking to actively engage advisers it has identified as carrying out unusually high levels of transfer business in a move it hopes will encourage best practice in the industry. Pru says its campaign has the backing of Aifa and the Personal Finance Society and is a rallying cry to the industry to improve […]

Cause for complaint

IFA John Duerden has taken on the Financial Ombudsman Service in the Royal Court of Justice, winning what is potentially a landmark ruling that raises serious question marks about the way the ombudsman calculates redress.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com