OMBUD COUNCIL ANNUAL REPORT 2024/25

PART B: PERFORMANCE INFORMATION

Table 2: Key Ombud Scheme Statistics for 2024/25

Total complaints (Formal plus premature, but excl. enquiries) - 49 581

Premature complaints received - 26 525

3 382

2708

10 331

NFO

NFO

6851

OPFA

OPFA

FAIS

FAIS

16966

35 868

Total complaints closed - 38 636

31748435 Total award to consumers - R457 542 646

3543

7091

97243999

NFO

NFO

OPFA

OPFA

FAIS

FAIS

328550212

28002

SCHEME

STATISTICS

TOTAL

NFO

OPFA

FAIS

49 581 26 525 28 185 38 636

Total complaints (Formal plus premature, but excl. enquiries)

35 868 16 966

10 331

3 382 2 708

Premature complaints received

6 851 9 185 7 091

Enquiries

6 978

12 022

Total complaints closed

28 002

3 543

n/a

Average complaint handling completion times (working days)

115

93% within 6 months

59

10 863

Referral to other forums

6 978

593

10 270

5 437

Final determinations / rulings issued

153

5 434

3

457 542 646

Total award to consumers

328 550 212

97 243 999

31 748 435

NOTES FOR TABLE 2: ● The statistics pertain to:

o One industry ombud scheme, the NFO, comprising four divisions: Banking, Life Insurance, Non-life Insurance, and Credit. NFO statistics are in respect of the ten month period from March to December 2024, covered by the NFO’s first Annual Report. o Two statutory ombud schemes: The FAIS Ombud and the OPFA. Statutory ombud scheme statistics are for the financial year April 2024 to March 2025. ● The complaint categories reflected are: o Total complaints: Complaints formally received including premature complaints but excluding enquiries. o Formal complaints: Complaints formally received and investigated by the scheme. o Premature complaints: Complaints submitted directly to the scheme without complainants first exhausting internal complaints handling processes of the financial institution and referred back to the financial institution for resolution before the scheme treats the complaint as a formal complaint. If not resolved by the financial institution, premature complaints are converted to formal complaints. o Enquiries: Requests for information or other approaches to a scheme that fall outside the definition of “complaint” in the relevant legislation or scheme governing rules and are for this reason not treated as formal complaints. ● Awards to consumers only includes determinations or rulings ordering payment of stated amounts. Where an award requires the respondent to perform a calculation or provide another form of redress amounts cannot be quantified and are not included. ● Data for the Johannesburg Stock Exchange (JSE) Ombud scheme, is not included. The JSE scheme covers members of the JSE in relation to JSE-listed securities. Unlike other industry ombuds, the JSE scheme is not a separate legal entity. The Ombud (a retired judge) is appointed by the JSE. Complaints from customers trading in the JSE markets in respect of authorised users (brokers) were addressed and resolved by the JSE Market Regulation Division before reaching the Ombud. The JSE scheme addressed only one formal complaint during 2024.

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OMBUD COUNCIL ANNUAL REPORT 2024/25