Ombud Council AR 2026

PART B: PERFORMANCE INFORMATION

The PFA, FAIS Ombud and the NFO closed 34 901 formal complaints during the year under review. A total of 6 372 was closed by the PFA; 2 978 by the FAIS Ombud and 25 551 by the NFO. Table 4: Appeals and Reconsideration Applications Schemes Total applications received Notes NFO 29 • 29 applications were made for leave to appeal to the NFO appeal tribunal. • 4 were granted leave to appeal. 1 of those matters was subsequently settled by the parties. 2 appeals were upheld. • 4th appeal was heard and dismissed in January 2026. PFA 104 • 104 matters were referred to the Financial Services Tribunal for reconsideration. • 63 were dismissed • 25 were remitted back to the scheme for reconsideration FAIS 133 • 133 matters were referred to the Financial Services Tribunal for reconsideration. • 130 were dismissed • 3 were remitted back to the scheme for reconsideration Total 266 A total of 266 appeals or requests for reconsideration were lodged against decisions of the PFA, FAIS Ombud and NFO. Appeals must be considered in the context of the applicable terminology and procedures as these differ between the schemes. The NFO, as an industry ombud scheme, has its own independent Appeal Tribunal. Matters determined by the PFA and FAIS Ombud are subject to the reconsideration jurisdiction of the Financial Services Tribunal (FST). In the case of the PFA, section 30P of the Pension Funds Act also gives complainants the option to approach the courts to appeal a determination instead of applying for reconsideration by the FST. The PFA data in this report only reflects matters referred to the FST. Note that figures in the table above may not add up as an appeal / reconsideration decided in the year under review may have been lodged in the prior reporting period. The NFO’s processes allow for a “leave to appeal” process before the NFO Tribunal processes an appeal, whereas in the case of the PFA and FAIS Ombud all applications for reconsideration are decided by the FST. Figure 8: Compensation Awarded to Financial Customers

NFO R442 994 504

ALL SCHEMES

PFA R99 761 817

Total awarded R582 335 181

FAIS R39 578 860

Ombud Council 2025/26 Annual Report

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