The Financial Ombudsman Service (FOS to us) is getting a roasting. They’ve a huge backlog and are costing too much, obvious solution, cut staff numbers. Here’s an alternative. Advisers and providers have argued for years for some sort of time bar on complaints. At the moment you could potentially hold the Prudential to account for a slip of the quill in Scrooge’s day, or at least when Maggie was still on the throne. Bring this down to, say, 10 or 15 years, outlaw the ‘has anyone ever sold you a pension or investment, ever, we can get you your money back’ companies and sanity may return.
“Reeves backs down on plans to cut ISA limit”
So it looks as though Cash ISAs are safe for the moment (FTM – is that a thing?) Rachel has apparently ‘bowed to pressure’ from the banks and building societies and decided not to reduce the allowance to £4,000 for cash and to keep the £20,000 parity with Stocks and Shares ISAs. Bowed also to common sense, I’d say.
