Page Contents
Key contacts
Related areas
On 25 March 2026, the Financial Services and Pensions Ombudsman (FSPO) published its Overview of Complaints for 2025 (the Overview) reporting on complaints handled in 2025. In this article, we reflect on the key trends and statistics from 2025 and the key takeaways for providers.
Speedread
In a record year, the FSPO received 7,004 complaints in 2025 (up 13% on 2024), with banking (54%) and insurance (31%) making up the vast majority of complaints. Key trends include the continued increase in insurance complaints (which have nearly doubled since 2022) and the increase in disputed transactions linked to fraud. At the other end of the spectrum, the number of tracker mortgage complaints continues to decrease, with almost all decisions being determined in favour of providers. In addition, the emphasis on early resolution continues, with 91% of complaints resolved through the FSPO’s early-stage processes.
Record volume of complaints
The FSPO received a record 7,004 complaints in 2025 – a 13% increase on 2024 and a 46% increase on 2022. In addition, a record 6,282 complaints were closed during the year – a 6% increase on 2024 and a 34% increase on 2022. The outcomes of closed complaints included settlements and directions worth a combined €6.17 million.
Sector breakdown
Banking
Banking remains the sector with the most complaints with 54% (3,802) of total complaints, a 12% increase since 2024. Most banking complaints concerned bank accounts (1,964), followed by mortgages (746) and consumer credit (556). Disputed transactions overtook customer service as the most common ground for complaint in the banking sector, now accounting for 34% of all banking complaints.
Insurance
Insurance was the second largest sector, making up 31% (2,142) of total complaints, an 18% increase since 2024. Insurance complaints have risen from 1,129 in 2022 to 2,142 in 2025. Motor insurance generated the highest number of complaints (968), followed by private health insurance (325) and travel insurance (241). More than a quarter of insurance complaints concerned claim handling (553), followed by rejection of claims (481); customer service (243); maladministration (239); and refusal to give a product or service (200).
The case studies in the Overview illustrate some themes arising in insurance complaints:
The case studies also highlight jurisdictional issues that arose in 2025, including complaints by non-policy holders, matters requiring a court determination, fraud allegations and complaints concerning entities not regulated in Ireland.
Pensions
In contrast, there was a significant reduction in the number of pension complaints, with 276, a 21% decrease from 2024. Almost all pension complaints related to occupational pension schemes (238 complaints; 86%). Maladministration was the most common ground of complaint (133 complaints; 48%), followed by calculation of pension benefit (56 complaints; 20%); failure to provide information or correct information (21 complaints; 8%); customer service (21 complaints; 8%); and incorrect or unsuitable advice (12 complaints; 4%).
Key complaint categories
Customer service
Customer service continues to be the most common ground for complaint across all sectors, with 19% of complaints (1,345) relating to issues such as communications, complaint handling, account access issues and failures to provide information.
Disputed transactions
Disputed transactions was the second most common ground for complaint (1,297 complaints), a 28% increase from 2024. Disputed transactions now account for 34% of banking complaints and 19% of all complaints. The FSPO linked this to a “continuing increase in fraud” and provided several case studies to “grow awareness of the types of scams and fraud” to which customers are falling victim. While the FSPO cannot investigate fraud itself, it can investigate the service of a provider in dealing with a customer who suspects fraud on their account.
Decline in tracker mortgage complaints
The downward trend of tracker mortgage complaints to the FSPO continues. In 2025, only 11 new tracker mortgage complaints were received. Of the 115 legally binding decisions issued in tracker mortgage cases during 2025, 111 complaints were not upheld. Only four decisions were partially upheld, with a total value of €18,500 directed to be paid to complainants. In total, the FSPO closed 143 tracker mortgage complaints in 2025, with 600 complaints remaining open. The Overview observes that many customers “remain of the belief that they are entitled to a tracker mortgage interest rate, either from the time when they took out the mortgage loan or from a date during the life of the mortgage loan, even though they have no contractual or other entitlement to such a rate”.
Resolution of complaints
The FSPO resolved 91% of all complaints during 2025 through its early-stage processes, without the need for a formal investigation or legally binding decision. The FSPO’s Dispute Resolution Service (DRS) closed 2,586 complaints in 2025 (a 13% increase on 2024) with 59% of these complaints reaching a mediation settlement. The total value of mediated settlements in 2025 was €4,568,025. A further €511,140 was paid to complainants by providers to settle complaints during the FSPO's formal investigation process, and the combined value of compensation directed in legally binding decisions was €165,950.
The FSPO also continued its Return for Further Mediation initiative, which offers parties who have already entered the formal investigation process another opportunity to settle through mediation. Of the 85 complaints referred for further mediation in 2025, 47% were resolved.
The average time from receipt of complaint to closure was 8.3 months, or 7 months for non-tracker mortgage complaints. 88% of complaints that closed in 2025 were closed within 12 months of the complaint being made.
Comment
The overall picture from the Overview is one of general growth in FSPO complaint volumes. Notable developments include the rise in insurance complaints and the increasing number of disputed transaction complaints. In the Overview, the Ombudsman publicly stated his intention to engage with the insurance sector on the increasing volume of complaints, and providers can expect heightened scrutiny in 2026.
For further information in relation to this topic, please contact Sarah Murphy, Partner, Chloe Culleton, Partner, Simon Barber, Lawyer (Qualified in New Zealand), Abbey McKenzie, Lawyer (Qualified in Australia) or your usual contact in the ALG Disputes & Investigations team.
Date published: 31 March 2026
