6 January 2015
consultation opens on ombudsman's our plans and budget for 2015/2016
The Financial Ombudsman Service today publishes its proposed plans and budget for the next financial year (2015/2016) for public consultation – together with an update on numbers for the current financial year (2014/2015).
The plans and budget set out how next year (2015/2016) the ombudsman is planning to:
The proposals to manage and fund this workload include:
Caroline Wayman, chief ombudsman, said:
Over the last few years the ombudsman’s workload has increased substantially – and the volatility of complaint levels remains a significant challenge when planning for the future. But we’re finally seeing evidence that the number of complaints referred to us by consumers is starting to stabilise.
On the other hand, complaints about PPI are still the main driver of financial disputes. And although numbers are slowly declining, it will be years before we can truly say this mis-selling scandal is over. Our plans take into account the increasingly hard-fought and complex nature of the cases we are seeing – not only in PPI but also in areas like mortgages and pensions.
No two financial complaints are alike. So from payday loans to pension drawdowns, our principal focus this year continues to be on placing fairness at the heart of what we do. Giving people honest, thoughtful answers that help them better understand and make sense of things that have gone wrong.