Being transparent about the number of complaints that firms receive is helpful for the industry and consumers. Firms can compare their performance with their peers and consumers have an additional source of information about the firms we regulate.
We publish two different types of data every six months: firm specific data for individual firms and aggregate (or total) figures for the industry.
This includes data from individual firms that have reported 500 or more complaints in a six month period, or 1,000 or more in a year (approximately 290 firms). These complaints account for around 98% of all complaints that firms report to us. We publish the data in both a sortable online table, where you can search by firm, and a downloadable table where you can search the data by product group (eg banking products).
This includes all the complaints that firms report to us. Over 3,000 firms submit complaints data to us reporting one or more complaint.
- In 2021 H1, financial services firms received 2.04m complaints, 7% lower than in 2020 H2 (2.19m). This is the lowest level recorded since 2016 H2.
- The insurance and pure protection product group saw the largest decrease in complaints received by firms (13%): from 1.01m complaints in 2020 H2 to 0.88m complaints in 2021 H1. There was also a noticeable decrease in home finance complaints (11%) while there were significant increases in investments (18%) and decumulation and pensions complaints (26%).
- The decrease in insurance and pure protection complaints continues to be driven by the tailing off of complaints about Payment Protection Insurance (PPI) (256,416 in 2020 H2 to 56,619 in 2021 H1). There has also been a decrease of 63% in travel insurance related complaints, after a spike in 2020 driven by Covid-19.
- Over the last few years, complaints about platforms have increased from 8,431 in 2019 H2 to 17,090 in 2021 H1 (an increase of 103%). Complaints about workplace personal pensions have also been steadily increasing from 7,642 in 2017 H2 to 14,974 in 2021 H1 (an increase of 96%).
What is included in the data
Alongside key findings, we have published dashboards which contain tables and visualisations exploring:
- the number of opened, closed and upheld complaints, in relation to the size of the market or firm
- the amount of redress paid
- the type of firm the complaint was about
- the type of product the complaint was about
- the reason for the complaint
Understanding the data
How we define a complaint
The full definition of a complaint is in our Handbook glossary. Firms must report complaints from eligible complainants about activities carried out from an establishment maintained by the firm or their appointed representative in the UK. Complaints data may also include complaints from retail clients, professional clients and eligible counterparties.
A complaint is resolved where the complainant has indicated acceptance of a response from the firm. Neither the response nor the acceptance needs to be in writing.
Consumer credit complaints data
The aggregate data does not include complaints against firms that are only authorised to carry out consumer credit related activities. This is because not all firms have submitted the data to us yet following their authorisation process and, as a result, we do not yet have a full set of data. We will not be publishing aggregate statistics for all firms until they are authorised and are reporting their complaints data to us.
Changes to the data from 2016 H2 (1 July to 31 December 2016)
Before 29 June 2016, we did not require firms to submit complaints data for complaints resolved by the end of the following business day after they were received. From 30 June 2016 the rule changed so that all complaints become reportable and this new data now feeds into the complaints data publication.
The amendments to DISP 1.5 were discussed in Policy Statement 15/19. This new, fuller data set will not be comparable to the historic data, but we believe it will be more informative for consumers and industry (including figures to put the number of complaints into context in relation to the size of each business), and will provide us with better intelligence.
Our aggregate data technical information page offers more information on how the rule changes have affected the data.
Making a complaint
Please see how to complain.
Future edition publication dates
H2 2021 data: 28 April 2022
H1 2022 data: 20 October 2022