Pension Funds

Treasury written question – answered am ar 22 Mawrth 2024.

Danfonwch hysbysiad imi am ddadleuon fel hyn

Photo of Matt Western Matt Western Shadow Minister (Education)

To ask the Chancellor of the Exchequer, what steps he is taking to ensure that investors in pension funds have the right (a) for complaints to be determined by the Financial Ombudsman Service and (b) to receive redress from the Financial Services Compensation Scheme.

Photo of Bim Afolami Bim Afolami The Economic Secretary to the Treasury

The Financial Ombudsman Service (FOS) can consider complaints about businesses regulated by the Financial Conduct Authority (FCA) which includes firms that provide self-invested personal pensions (SIPPs). The jurisdiction of the FOS, including which complaints it can deal with, is determined by the FCA and set out in the FCA Handbook. Whether a complaint is eligible or not is a matter for the FOS to consider.

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