The FSA has set a final deadline of June 2002 for the remaining pensions misselling review cases to be cleared up, according to the Financial Times.
The report says there are more than two million outstanding cases which are expected to be finished by this date, at a total cost to the industry of £11bn.
The deadline applies to all phase two cases involving younger pension planholders, and reviews deemed less urgent than those covered under phase one.
The FSA says its television advertising campaign on phase two identified one million potential misselling cases.
But it believes this could grow to by further million once pensions providers and advisers finish trawling through their files.