Mr. Paul Kenny:

It will be a hybrid. It will almost be like a portal where we will have people who will major in pensions and people who will major in other financial services. We would hope that members of the two groups will gradually come to be comfortable in both disciplines. One of the advantages it will give us is that we will be able to investigate what currently would be portmanteau complaints. For example, if someone leaves a pension scheme and their trustees buy the person a personal retirement bond, which is that person's own property, that is now a financial product and proper to the Financial Services Ombudsman. I can look at what the trustees did before the bond was bought but I cannot look at what the administrator did after it was bought. Such issues will be much easier in future because we will not have to split the complaint. One individual inside the office will be able to look at both ends of the complaint, which currently is not possible.