Statutory Ombudsman or Statutory Compensation Scheme
The Financial Ombudsman Service (FOS)
FOS settles individual disputes between consumers and businesses that provide financial services. They resolve disputes fairly and impartially, and have the power to put things right.
The Financial Services Compensation Scheme (FSCS)
FSCS is the UK’s statutory fund of last resort for customers of authorised financial services firms. This means it can pay compensation if a firm is unable, or likely to be unable, to pay claims against it. FSCS is a non-profit-making independent body, created under the Financial Services and Markets Act 2000 (FSMA). It is funded by levies on authorised financial services firms. FSCS does not charge individual consumers.
The Pensions Ombudsman (PO)
PO is an independent organisation set up by law to investigate complaints about pension administration. They can also consider complaints about the actions and decisions of the Pension Protection Fund and about some decisions made by the Financial Assistance Scheme.