Context
The Financial Ombudsman Service’s Annual Report and Accounts for the 2021/22 financial year have been published and laid in Parliament, giving details about FOS’ progress against its strategic aims and objectives and information about its financial performance. The FOS has also published an annual report by its Independent Assessor, who considers complaints made regarding the service of the FOS.
Key points to note
- 84% of complaints were resolved with an informal view by a Financial Ombudsman Service Investigator (2020/21: 87%)
- 39% of complaints were upheld
- 36% consumer satisfaction for non‑upheld cases (target: 45%; 2020/21: 43%)
- 88% consumer satisfaction for upheld cases (target: 90%; 2020/21: 90%)
- 80% business satisfaction with the FOS’ service (target: 80%; 2020/21: 72%)
Next actions
None – for information and awareness.