ROS ALTMANN

 Shocking failings uncovered at Financial Ombudsman.  Channel 4 Dispatches undercover investigation finds major flaws in Ombudsman operation.  FOS staff who don’t understand financial products, are pressured to turn down complaints and side with banks or financial providers.  Urgent action needed to ensure financial customers have proper system of fair redress. Tonight at 8pm a Channel4 Dispatches programme will show shocking evidence of failings at the Financial Ombudsman Service (FOS). Members of the public are told to complain to the Ombudsman

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MPs must ensure Government’s promised cold-calling ban actually works.  Providers should also be required to automatically refer customers to PensionWise guidance.  Financial Guidance and Claims Bill comes to Commons tomorrow for crucial votes – a chance to achieve proper protections, not just worthy headlines.  I hope Government will back Frank Field’s amendments for cold-calling and automatic pensions guidance rather than its own weaker proposals. An opportunity to improve consumer protection properly: The House of Commons will vote tomorrow, Monday 12

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UK State Pension officially the worst in the world – but still needs to be cut further. Middle income groups receive worse pensions than any other country in the OECD. Government actuaries say under-30s won’t get state pension till their 70s as new State Pension system is unaffordable. The Government Actuary says the UK State Pension is not sustainable, even though it is the lowest in the developed world, according to latest OECD figures. UK bottom of the global pensions

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