PPI, pensions, travel insurance and BT

The Financial Ombudsman Service has revealed that unresolved grievances about the mis-selling of payment protection insurance (PPI) still dominate its workload.

According to the BBC, the organisation received 150,000 new complaints in the six months to December 2016. Just over half of them – 78,000 – were about PPI policies. Chief ombudsman Caroline Wayman said: ‘PPI complaints are down, but there are some suggestions that this could be the calm before the storm.’

Meanwhile, the list of most-complained about businesses to the ombudsman is still dominated by the UK’s high street banks, and a number of credit card lenders. Top of the list in the last half of 2016 was Bank of Scotland, part of the Lloyds banking group, with nearly 20,000 new complaints. It was followed by Lloyds bank itself, Barclays, HSBC, NatWest, the credit card firms Capital One and MBNA, Santander and the Nationwide building society. Pensions A report on inter-generational fairness published by the Commons work and pensions select committee this morning calls for the end of the ‘triple lock’ guarantee on pensions, The Guardian says.