The Pensions Ombudsman (TPO) has reported that it closed 3,468 investigations and resolved 8,809 enquiries in 2019/20, surpassing its targets for both.

It's Annual Report and Accounts 2019 to 2020 said it had intended to close investigations at a rate equivalent to 90 per cent of the number taken on in the year and beat that goal by closing a number equivalent to 96.5 per cent.

The body took on 2,400 new early resolution investigations, resolving 2,264, and 1,192 new adjudication cases, resolving 1,204 cases.

New adjudication cases were down 22 per cent on the year before and early resolution investigations increased by 15 per cent.

The ombudsman's report said this was because it was identifying complaints suitable for early resolution more quickly, while customers had also "embraced the early resolution concept".

TPO had also wanted to deal with written enquiries at a rate equivalent to 90 per cent of new enquiries received in the year, with the year saw it receive 8,977 written enquiries, up by 24 per cent on the previous 12 month period, of which the ombudsman resolved 8,809, or 98 per cent.

TPO received 11,552 preliminary phone enquiries from potential complainants who thought the ombudsman might be able to help them, an increase of 41 per cent on the year before.

Another of its goals had been to have no more than 10 per cent of open investigations aged more than 12 months, though the ombudsman fell short in this case as it reported that 11 per cent of its open investigations were more than 12 months old.

The most common reason for not evolving complaints into an investigation were the complaint not being made within time limits (48 per cent), failing to raise the complaint with the correct parties (23 per cent) and the parties not being within TPO jurisdiction (6 per cent).

Among completed investigations, the most common topics were transfers (23.6 per cent), misquoting and misinformation (14.1 per cent), and ill health issues (9.8 per cent).

More than nine out of ten (95 per cent) completed investigations were accomplished using informal routes, with 29 per cent of complaints being at least partially upheld by the ombudsman.

TPO interim chair, Caroline Rookes, said: “Over the last few years, TPO has been on a transformational journey; reviewing its internal structures and processes to make it quicker and easier for customers to resolve their pension disputes. These changes also strengthen the organisation’s resilience; allowing it to divert resources to where they are most needed at any given time.

“This flexibility will be essential, especially given the uncertainties we all face with the Covid-19 pandemic and the potential impact that may have on pension complaints. It has been a very significant year for TPO and as the changes are further embedded, we can expect to see cost-efficiencies further down the line.”

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