Ombud Council AR 2026

PART B: PERFORMANCE INFORMATION

Total Complaints Received Figure 4: Total Complaints Received (excluding enquiries)

76 395 Total complaints Formal + premature ALL SCHEMES

Premature converted to formal 15 505

Premature complaints 2 007

4 186 Total complaints Formal + premature FAIS

50 065 Total complaints Formal + premature NFO

Formal complaints 25 691

Formal complaints 2 179

Premature complaints 24 734

Premature converted to formal 1 237

22 144 Total complaints Formal + premature PFA

Premature converted to formal 7 702

Premature complaints 9 103

Formal complaints 13 041

The total combined complaints recorded by the PFA, FAIS Ombud and the NFO was 76 395, comprising formal and premature complaints but excluding enquiries. The volume of complaints must be considered taking into account the mandates of each scheme. The NFO has a broad multi sector jurisdiction covering banks, life and non-life insurers, and credit providers. The FAIS Ombud and PFA have more focused mandates, dealing with financial advice and intermediation; and retirement fund disputes respectively. Comparative complaint volumes are therefore not an indicator of performance or effectiveness of an individual scheme. Formal complaints A total of 40 911 complaints were formally received and investigated across the three schemes for the reporting period. Premature Complaints Premature complaints are complaints submitted directly to the scheme without complainants first exhausting internal complaints handling processes of the financial institution. Upon receipt of premature complaints by the schemes, these are referred to the financial institution for resolution before the schemes treat them as formal complaints. It should be noted that there is some double counting between the premature complaints and formal complaints

statistics shown above. This is because the formal complaint figures include premature complaints that are converted to formal complaints if not timeously resolved directly by the financial institution. The premature and formal complaint stages each require distinct complaint handling processes and recordal, albeit arising from the same matter. Timing differences also arise, as formal complaints recorded during the year under review may have arisen from premature complaints received in the prior year. A combined total of 35 844 premature complaints were received by the PFA, FAIS Ombud and the NFO. Of these, 24 444 premature complaints were converted to formal complaints by the three schemes, with most of the balance resolved by the financial institutions directly, after being referred to them by the scheme. Although percentages vary across schemes and industry sectors, an aggregate of approximately 68% of premature complaints were converted to formal complaints across the schemes. This reflects the importance of the initial complaints handling stage by financial institutions as well as the key role of the financial ombud system in ensuring that financial customers are not stranded without recourse if a financial institution’s internal complaints processes have not resolved their complaints..

Ombud Council 2025/26 Annual Report

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