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PPI furore leads FOS to increase staff by 25%

The staff required to cope with the deluge of payment protection insurance (PPI) claims received at the Financial Ombudsman Service (FOS) has required the organisation to boost its employee numbers by 25 per cent.

Over the last year, the FOS has recruited an extra 500 staff solely to deal with PPI claims, which brings the total workforce to 2,500.

If the number of claims continue at the current rate, the FOS has said that the organisation will have to continue recruiting more staff.

"We’ve now received half a million complaints in total about PPI – and so far this year we’ve handled double the number of cases that we had geared up to receive, following public consultation last year," said FOS chief executive Natalie Ceeney in the organisation's new publication.

This is presenting the FOS with growing challenges, as it tries to cope with caseloads in matters unrelated to PPI. Ms Ceeney said that many of the cases should have been sorted out by financial businesses before they reach the independent dispute service.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801496346-ADNFCR



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