Don’t get caught out by financial pitfalls
26 January 2026
As students return to university after Christmas, we are urging them to be aware of financial pitfalls and make informed choices.
Today we’ve published our plans and budget for the financial year 2021/22.
Our plans and budget for 2021/22 incorporate feedback from stakeholders following a consultation in December 2020 and January 2021.
Our plans and budget document sets out that, in the year to the end of March 2021, despite the unprecedented impact of Covid-19, we expect to have resolved in excess of 95% of the volume of cases we’d originally planned to in our general casework.
However, the pandemic has also contributed to the substantial increase in the number of new complaints we received in 2020/21 – forecast to be at least 45% higher than expected at the beginning of the 2020/21 financial year.
The plans and budget published today sets out how the service is responding to this, including our plans to bring down waiting times.
Latest news
Financial Ombudsman Service sets out ambitious targets for resolving cases in 2026/27
13 January 2026
We have proposed ambitious targets for the next financial year, and would like to remind stakeholders that our consultation closes on 21 January 2026.
New interest rate now applies to compensation awards
2 January 2026
A new interest rate applies to the compensation we direct financial businesses to make for cases referred to our service on and after 1 January 2026.