Financial ombudsman - How long?

Blackavar

Hi
Submitted complaint against my pension company a month ago and just received email thanking me for providing info but due to heavy demand, my complaint will take more time. The inference is that they haven't even started yet.
Does anyone have any experience of this process and if so how long does this take please?
Thanks for any input

Dox

Several months at least - they are snowed under.

Is this definitely one for the FOS rather than the Pensions Ombudsman (that too takes time but at least if you start in the right place it'll be quicker!).

SonOf

It can be years if it's complicated.

eskbanker

Impossible to give any meaningful rules of thumb given the number of variables (and pension-related matters may be more complex than many more routine banking issues), but https://www.financial-ombudsman.org.uk/consumers/expect states:

How long it takes to sort out your complaint depends on how complex it is – and how long it takes to get all the information we need. If there’s just been a misunderstanding we can often sort things out very quickly. If things are more complex, it will take longer. It will also take longer if you or the business don’t agree with what we say, and want an ombudsman to make a formal, final decision. Generally, though, we can resolve most complaints within three months of a case handler getting in touch with you.

Blackavar

There is a pensions ombudsman?

[Deleted User]

There is a Pensions Ombudsman?

I would definitely avoid the Financial Ombudsman if there is an alternative.
My pensions case took thirteen months.
Bear in mind I lost. But I gave the FO a two-star rating, which is double their average score, because the first investigator did inform me about the complainant's right to use a Subject Access Request. The SAR is the firm's complete record of your interaction with them and they will send it to you, normally free of charge, inside a fortnight. I recommend that all complainants make the request straight away, to put them on a level playing field.
There again, any case raised with the ombudsman triggers a charge of £500 to the firm. Also, the ombudsman will review the original decision, if asked. And publish details on their website.
But generally, there is a strong impression of an organisation bumbling along and creaking under the weight of its case-load.

coyrls

More than two years for my positive outcome.

xylophone

There is a pensions ombudsman?

Yes.

https://www.pensions-ombudsman.org.uk/