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Financial Services and Pensions Ombudsman

Dáil Éireann Debate, Thursday - 4 February 2021

Thursday, 4 February 2021

Questions (54, 55, 56)

Pearse Doherty

Question:

54. Deputy Pearse Doherty asked the Minister for Finance the number of complaints submitted to the Financial Services and Pensions Ombudsman which are yet to be allocated to a complaint handler; and if he will make a statement on the matter. [6229/21]

View answer

Pearse Doherty

Question:

55. Deputy Pearse Doherty asked the Minister for Finance the number of complaints submitted to the Financial Services and Pensions Ombudsman which are yet to be allocated to a complaint handler disaggregated by the number of weeks since they were first submitted with intervals of one week. [6230/21]

View answer

Pearse Doherty

Question:

56. Deputy Pearse Doherty asked the Minister for Finance the number of complaints submitted to the Financial Services and Pensions Ombudsman which remain unresolved disaggregated by the number of months since they were first submitted with intervals of one month. [6231/21]

View answer

Written answers

I propose to take Questions Nos. 54, 55 and 56 together.

Firstly, I must point out that the Financial Services and Pensions Ombudsman (FSPO) is independent in the performance of his statutory functions.  I have no role in the day to day workings of the office or in the decisions which he takes.

The FSPO has informed me that it has improved the quality and speed of its service considerably over the last year. All complaints now received by the FSPO are subject to an initial review within 5 working days of receipt. Following this initial review, complaints that appear to have been submitted accompanied by all of the required documentation, and where the Complainant has exhausted the provider’s Internal Dispute Resolution mechanism in advance, are assigned within 2 business days of the initial assessment to an officer to conduct a verification review. These files are “Ready for Review”. There are currently 0 (no) such files within the FSPO awaiting assignment to an officer at 2 February 2021.  

The FSPO is currently receiving approximately 450 complaints per month.  In some cases the initial review indicates that further information is required. This may be required in order to conduct a detailed assessment, to establish for example, whether the complainant has made the complaint to the Financial Service Provider (FSP), or to the correct FSP, or whether the complaint falls within the jurisdiction of the FSPO investigate. Where this is established the initial assessment team will write to the complainant to outline the required information. The complaint will then be assigned for detailed assessment depending on the capacity of the team. There are currently 548 files at this Assessment stage awaiting assignment to an officer to progress.

Of the 548 complaints awaiting assignment;

- The FSPO is awaiting documentation from the parties in 308 complaints,

- The FSPO has issued reminders to submit required information in an additional 101 complaints,

- The remaining 139 complaints are awaiting detailed review.

The number of complaints (548) awaiting assignment by weeks since being submitted to the FSPO are as follows:-

Weeks since receipt of   complaint

Awaiting Documentation from the Parties

Reminder issued due to non-response

Awaiting Assessment on Assignment

20 weeks

1

1

 

19 weeks

1

2

 

18 weeks

 

1

 

17 weeks

 

3

5

16 weeks

5

2

5

15 weeks

3

3

 

14 weeks

3

1

5

13 weeks

7

9

4

12 weeks

6

9

2

11 weeks

16

16

4

10 weeks

15

21

6

9 weeks

17

9

7

8 weeks

23

11

13

7 weeks

25

7

7

6 weeks

5

3

4

5 weeks

12

 

2

4 weeks

23

3

21

3 weeks

31

 

11

2 weeks

41

 

13

1 week

55

 

16

>1 week

19

 

14

Total

308

101

139

The FSPO has also informed me that there are 4607 complaints open (not yet resolved). The table below sets out the on-hand complaints data by year and month received.

Table

I am advised by the FSPO has that the data contained in this response is extracted from a live database and therefore depicts complaint information at a specific moment in time. Data in this database is subject to ongoing verification and data categorisation as the understanding of the specific complaint is developed. The data is correct as of 2 February 2021.

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