Financial Ombudsman Service (FOS)
The FOS was set up to help settle disputes between consumers and financial firms. They consider complaints about a range of financial matters – from insurance and mortgages to savings and investments.
Complaints relating to the sales or marketing of a personal pension or stakeholder scheme can be considered by the FOS. If you are unhappy about the sale of your personal pension or stakeholder scheme, you should send a letter of complaint to the firm that sold the product to you. That firm has eight weeks to investigate and issue you with a decision.
If that fails to resolve the problem and you are still unhappy, you can contact the FOS. They will investigate and, if they uphold your complaint, award appropriate compensation, up to a maximum of £100,000.
If your complaint is not about sales and marketing, but instead relates to the administration of your personal pension or stakeholder plan, the FOS will not be able to help. Maladministration complaints are dealt with by The Pensions Advisory Service and the Pensions Ombudsman. Click here for further information about how we and the Pensions Ombudsman deal with complaints.
Further information about the FOS can be obtained from them at:
Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London
E14 9SR
