You are here: Home - Retirement -

Pension providers: which are the most complained about?

Written by:
The Financial Ombudsman Service (FOS) received more complaints about Phoenix Life than any other life and pensions provider in the six months to 30 June 2013.

Data released by the FOS shows Phoenix, part of closed life fund consolidator Resolution, was the subject 364 life and pensions complaints, while Aviva was a close second with 362.

Consumers complained about Prudential 309 times, followed by Legal and General (219), Sun Life Assurance (200), Royal London (199), Zurich (186), ReAssure (179), Barclays Bank (176), Lloyds TSB (172), Bank of Scotland and Friends Life (169 each), Abbey Life (161), Co-operative Insurance Society (148), and Standard Life (142).

However, Phoenix only lost 27% of the cases against it.

The life and pensions complaints most often resolved in favour of the consumer, resulting in a charge on the provider of up to £150,000, were those against Friends Life (52%).

This was followed by complaints against Countrywide (44%), Scottish Equitable (35%), Barclays Bank and Santander (33% each), and Aviva (30%).

There was a 3% decrease in complaints about insurance products in general.

FOS chief executive and chief ombudsman Natalie Ceeney said: “We are seeing encouraging signs from some major businesses that are starting to recognise the value of getting things right for their customers, with an increased focus on sorting out problems and concerns as quickly as possible.”

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Warning: Tax credit claims will not be automatically renewed this year

HMRC automatically renewed almost all tax credit claims last year to relieve pressure on people at the start o...
Warning: Tax credit claims will not be automatically renewed this year

10 million Brits have less than £100 savings

Britain is facing a savings crisis with almost one in five UK adults having less than £100 stashed away for a...
10 million Brits have less than £100 savings

Landlords being ‘made scapegoats’ for Covid rent crisis

The government has turned its back on the private rented sector with landlords forced into a no-win situation...
Landlords being ‘made scapegoats’ for Covid rent crisis

Ryanair jetting towards US flights for £10

Ryanair is on course to achieve its long-held ambition of offering transatlantic flights to the US – and the...

Investing in car parks: a good vehicle for income seekers?

As the search for income continues, many investors are turning to alternatives, with car parks becoming increa...

A quick guide to guarantor loans – in association with Guarantor Loan Comparison

Considering a guarantor loan or becoming a guarantor yourself? Read our essential guide...

Results round-up: Companies to watch this week

Mulberry and more will face the music this week.

Product launches of the week

Select Property Group, Schroders, Leeds Building Society and more have exciting news this week.

Money Tips of the Week

Read previous post:
Rising energy bills: should you go for a fixed tariff?

Heating bills may not be top priority as we bask in an Indian summer but consumers are being urged to...