The Financial Ombudsman Service has today confirmed it will increase its annual budget for the coming year by just over 18.5% to £291.7m.

SIPP provider Corporate & Professional Pensions Limited has entered into administration following a number of complaints upheld by the Financial Ombudsman Service on pension transfers.

In my article for Financial Planning Today earlier in January I questioned just how “fair and reasonable” are the decisions being reached by the Financial Ombudsman Service - particularly in relation to historic events involving SIPPs and SIPP investments.

I have written before about my concerns about the way the Financial Ombudsman Service is reaching decisions in cases involving SIPPs and SIPP investments and the implications for SIPP providers and advisers.