The Financial Ombudsman Service’s annual complaints data for the 2020/21 financial year show that the organisation received 278,033 new complaints during the 12 months to March 31 2021. This represents an increase of just 2% compared to 2019/20, but this doesn’t tell the full story, as payment protection insurance complaints have fallen by almost two-thirds, from 122,153 to 42,040.
Additional research highlights the pension gender pay gap, and also how many savers don’t engage with their pension
New research by Legal & General has highlighted the gender gaps that still exist when it comes to pension provision.
Research by pension switching advisory firm Profile Pensions shows that, in some areas of the UK, the ‘gender pension gap’ could be as high as 50%. The gender pension gap is defined as the difference between the level of pension income that can be expected by men and women.