The Financial Ombudsman Service expects to receive complaints related to the FCA’s new Targeted Support regime - which launches on 6 April - in the 2026/27 financial year.
The FOS expects a total of 11,400 investment and pensions related claims in 2026/27, according to its annual budget.
The figure is a significant drop from the 13,000 it said it expected for the 2026/27 year in its February consultation.
It said it expects Targeted Support complaints, but for these to be offset by reduced cases from Ongoing Advice Charges.
The FOS budget document hints that the FOS expects a considerable number of Targeted Support complaints.
It said: “We will be able to look at complaints about this service from early 2026/27, however we do not expect to start seeing a significant number of complaints in relation to this type of advice straight away due to the nature of investment advice.”
The service received 11,600 investment and pensions related complaints in 2025/26.
Expected case volumes at the Ombudsman are set to stabilise this year, with the service expecting to receive a total of 199,000 new complaints in 2026/27. This is down considerably from 306,000 in 2024/45 and 210,000 in 2025/26.
The FOS said the drop in case volumes was due to fewer motor finance commission cases and fewer complaints from professional representatives.
The Ombudsman expects to resolve 266,500 cases over the course of 2026/27, a mix of new cases and those it has already received.
The Financial Ombudsman Service is to increase its case fees and levies in 2026/27 after two years of being pegged, according to its plans and budget for the 2026/27 financial year released today.
From 1 April, the compulsory levy will rise 10% to £86m, the same level as seen in 2021/21 (2024/25: £70m).
Respondent firms will be charged £680 per case (a rise of 4.6%), and professional representatives will be charged £80 for cases they refer which are found in favour of the consumer they represent. For cases which find in favour of the firm, professional representatives will pay £260 and the firm’s case fee will reduce to £500.
The FOS said the costs for firms still represented a significant saving on 2023/24 levels, but the increase was needed due to inflationary challenges, reduced reserves, and the cost of implementing reforms to the service.
The charges are unchanged from those proposed in its consultation in February.
Jenny Simmonds, interim chief executive at the Financial Ombudsman Service, said: “This financial year will be a crucial one for the Financial Ombudsman Service which will help shape the organisation for years to come.
“We never forget that behind every case is a consumer and a business looking for an answer, so we are delivering improvements and efficiencies to ensure we remain fit for purpose and fair to all parties.”