The Single Financial Guidance Body comments on FOS compensation award limit increase

Charlotte Jackson, Head of Pensions Guidance Services at the Single Financial Guidance Body commented:

“The increase to the Financial Ombudsman Service (FOS) award limit means that from April consumers will have access to a higher level of compensation from financial services firms when a complaint is upheld. This will give added protection and assurance to consumers when using a certified regulated financial, should things go wrong. This will be particularly important for people looking to transfer from a defined benefit scheme.”

“You can check whether a someone is a registered financial adviser by visiting the Money Advice Service website for information on financial guidance and for further information on pensions go to The Pensions Advisory Service or read their Spotlight guideopens in new window.”