SFGB Comment on Increase to FOS Award Limit

Charlotte Jackson, Head of Pensions Guidance Services at the Single Financial Guidance Body commented: “The increase to the Financial Ombudsman Service (FOS) award limit means that from April consumers will have access to a higher level of compensation from financial services firms when a complaint is upheld. This will give added protection and assurance to consumers when using a regulated financial adviser, should things go wrong. This will be particularly important for people looking to transfer from a defined benefit scheme.”