Complaints to the Financial Ombudsman Service (FOS) about annuities and income drawdown products have accelerated since the March Budget, new figures have shown.
FOS' half yearly complaints data listed 408 new annuity claims and 108 income drawdown gripes between April and September. Although uphold rates - the number of cases the FOS decides in favour of the consumer - were down, the numbers of new cases in the half year suggest 2014 will top the previous year's overall figures. In the previous full year - between April 2013 and March 2014 - the FOS received 601 complaints about annuities and 169 new income drawdown cases. The FOS only lists those products about which it has received and settled at least 30 complaints. However, the data...
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