There was a 20% increase in the number of complaints received about personal pension plans, which accounted for 46% of all pensions complaints.
Annuities complaints dropped 3% to 743, with the number of people contacting FOS about draw-down complaints rising 8% to 172.
Intermediaries
IFAs received the fewest complaints in 2016/17 when the figures were broken down by business type. Complaints halved to around 1,606 from 3,409 in 2015/16.
Insurance intermediaries accounted for 3.5% of all new complaints; equating to around 11,245, down from around 11,931 complaints the previous year.
Life insurance and investment product providers received 3% of complaints in 2016/17, which equated to around 9,639 complaints.
Investments
Investment-linked product complaints fell 10% to 2,878 between April 2016 and March 2017. Investment Isas continued to make up the bulk of the issues, despite falling 2% to 1,261.
Unit-linked bond complaints dropped 11% to 484, while with-profits bonds reported a strong uptick of 27% to 256.
Two new products were complained about in 2016/17; namely capital-protected structured products and non-structured periodically-guaranteed products, which reported 140 and 73 complaints, respectively.
The sharpest decrease in complaints was in film partnerships, which dropped 55% to 44 in 2016/17.
Insurance
Whole-of-life policies and savings endowments attracted 1,997 complaints, up 3% from the previous year.
