Complaints made to Ireland’s Financial Services and Pensions Ombudsman (FSPO) reached a record level of 7,004 in 2025, but pensions-related complaints accounted for just 4 per cent of those received.

In an update from the country’s FSPO, it was revealed that 276 pension complaints were received during the year, down from 349 in 2024.

This is in contrast to the insurance and banking sectors, which have seen a 13 per cent increase since 2024. Customer service was the most common complaint, with 19 per cent of complaints concerning customer service.

The FSPO received 2,142 insurance complaints, accounting for 31 per cent of complaints received by this office in 2025, while the banking sector received 3,802 complaints, accounting for 54 per cent of all complaints.

Complaints related to investments stood at 525, accounting for 7 per cent, and an increase from the 411 received in 2024.

During 2025, the FSPO closed 6,282 complaints in 2025, representing a 6 per cent increase on 2024 and a 34 per cent increase since 2022. Settled cases had outcomes worth €6,173,619.

Ninety per cent of all complaints that closed in 2025 closed in the early-resolution and informal processes, without requiring a formal investigation or a legally binding decision.

Eighty-eight per cent of the complaints that closed in 2025 closed within 12 months of being received.

FSPO, Liam Sloyan, said: “The FSPO exists to provide an independent, impartial, fair and free complaint resolution service for consumers who are unhappy with how their complaint was dealt with by their financial service or pension provider.

“As the Overview of Complaints shows, the FSPO is doing this at scale, and customers should know they have recourse to the FSPO.”

He added that his department has focused on increasing the number of complaints closed through mediation, as early resolution of complaints benefits both the complainant and the provider.

“The success of this strategy has led to an increase in the number of complaints resolved and an increase in the cash value to consumers using mediation,” he added.

As part of its remit, the Ombudsman can direct a pension provider to fix or correct an issue. However, the legislation governing the FSPO sets out that any financial remedy by the Ombudsman cannot exceed any actual loss of benefit under the pension scheme concerned.

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