Phase two of the pension review as at March 2001 showed that of the
1,220,984 requests for review, 1,066,552 were against product providers
compared with 97,977 against networks and big IFAs and 56,435 against small
IFAs. Claims found to have reviewable cases were split 782,651 against
product providers compared with 782,651 against networks and big IFAs and
41,176 against small IFAs. But although product providers have processed
50.5 per cent of cases, networks and big IFAs have processed 62.5 per cent
while small IFAs have only processed 43.5 per cent.
Product providers have agreed redress of £2.4bn compared with
£273m for networks and big IFAs and £65m for small IFAs of a
total redress accepted to date of £2.7bn.