Financial Services and Pensions Ombudsman receives 131 complaints from Limerick consumers

THE FINANCIAL Services and Pensions Ombudsman (FSPO) received 131 complaints from consumers in Limerick last year, it has been revealed.

The figures are contained in an overview of all complaints which were received during 2021.

According to Mary Rose McGovern, the acting Ombudsman, 4,658 complaints were received (nationally) by the FSPO over the 12 month period. The overview also details the value of more than €7m in complaint outcomes.

While 4,658 complaints were received last year, a total of 5,010 complaints were closed through the FSPO’s various processes.

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An analysis of the complaints received last year shows 23% concerned an issue of customer service while banking complaints represented 57% of all complaints received. Complaints concerning mortgages accounted for 23% of all complaints received in 2021.

In addition to the 600 Covid-19 related complaints received in 2020, a further 275 new complaints were received in 2021 where the complainant introduced Covid-19 as an element of their complaint. 

Commenting on the overview, Ms McGovern said: “In 2021, the FSPO delivered significant outcomes for complainants with €4.6m in mediated settlements achieved through our Dispute Resolution Service and €941,328 in compensation directed in legally binding decisions. In addition, over €944,000 was paid to complainants by providers to resolve complaints during the formal investigation process. 91 complaints were not upheld due to a reasonable and adequate offer of redress being available for acceptance by the complainant and these offers totalled €667,993. These outcomes demonstrate the monetary value of the services provided by the FSPO during 2021."

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Ms McGovern continued: “It is notable that 23% of the complaints made to this Office in 2021 were complaints about poor customer service from financial service providers. It is clear that many customers experience frustration with the level of customer service available from their provider when the customer is seeking to engage, and it seems that a more responsive service from providers could avoid many such complaints arising. The FSPO’s current Strategic Plan outlines that we will play our full part in helping to raise standards in complaints handling and resolution so that where possible, customer complaints are prevented from arising, and where such complaints arise, fairer outcomes are achieved."

A number of sample decision and more details can be found at fspo.ie.