The total amount of redress paid in 2025 H1 was £283m, a 20% increase on the 2024 H2 figure of £236m, with the average compensation payment rising from £207 to £238. The percentage of complaints that were upheld by firms remained around 57% between 2024 H2 and 2025 H1.
The product groups that experienced an increase in their complaint numbers were:
• Banking and credit cards increased 7% from 839,526 (2024 H2) to 899,861 (2025 H1) including a 10% increase for current account complaints from 491,172 cases to 541,493
• Decumulation & pensions increased 6% from 89,172 (2024 H2) to 94,035 (2025 H1) including a 38% increase for trust-based pensions from 6,466 cases to 8,977
• Investments increased 10% from 52,971 (2024 H2) to 58,303 (2025 H1)
The product groups that experienced a decrease in their complaint numbers were:
• Home finance decreased 6% from 83,936 (2024 H2) to 78,641 (2025 H1)
• Insurance & pure protection decreased 0.2% from 718,497 (2024 H2) to 717,406 (2025 H1)
Phil Smith, Senior Actuarial Consultant at Broadstone, commented: “Given the scrutiny on consumer outcomes and fair treatment from the regulator, it is perhaps unsurprising that we are seeing increases in complaints. With the number of complaints being upheld remaining consistently high as well as increases in both total and average compensation payments, it is clear that firms have work to do to ensure they are treating their customers fairly. Redress remains a costly outgoing for firms – as the ongoing motor finance case should be a reminder of – so it quite literally pays to treat customers well.”
FCA Complaints Data H1 2025
|
