PIMFA also wants to see a probe into the training regime of FOS staff.
Financial Planner Martin Bamford has already called for a full inquiry and he was backed by ex-Pensions Minister Baroness Ros Altmann. But the FOS said the programme had given an “unfair impression”.
After the Dispatches programme aired on Monday night, PIMFA called for past cases to be examined again “where there is any doubt as to the outcome”.
The FOS said it is going to review the claims in the TV investigation.
PIMFA officials said the Channel 4 probe showed evidence of a “lack of training and competence for FOS staff when dealing with complex pension, advice and investment related cases to ensure consistent outcomes”, adding that this warranted calls for a review.
Liz Field, CEO of PIMFA, said: “The issues identified by the investigation are obviously cause of concern for the industry and need to be dealt with seriously.
“It is imperative that individuals feel confident they can seek redress if something has gone awry to avoid severe detriment to individuals lives.
“We therefore support the call for a review of past cases that remain questionable in a bid to prove that cases have been dealt with correctly.
“PIMFA also call for an urgent review of the FOS training regime to ensure that its staff have sufficient knowledge when dealing with complex pension, advice and investment claims they receive.”
Ms Field acknowledged that the “mounting case load is putting pressure on staff who in most instances are working hard to achieve the fairest outcomes”.
“However an evaluation of internal culture is essential to deal with issues identified such as the obvious lack of necessary training and the setting of unachievable targets, which seriously impacts the decision-making process,” she said.
“Any planned extension to the remit of FOS should be suspended until we can be assured that staff have the necessary knowledge to deal with the subject matter competently to achieve just decisions.
“These fundamentals need to be resolved to ensure that clients and firms can access a sustainable, impartial, evidence based dispute resolution model.”