FSCS levy set at £287m as SIPPs turn sour

Laura Miller
clock

The Financial Services Compensation Scheme (FSCS) plans to collect a levy of £287m from firms in 2015-16, as it prepares for a rise in claims related to self-invested personal pensions (SIPPs).

The levy covers compensation and management expenses, excluding the costs of the major bank failures of 2008/09. It compares with total levies so far in 2014-15 of £276m. The FSCS said it expects a...

To continue reading this article...

Join Investment week

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space

  • Get ahead of regulatory and technological changes affecting fund management

  • Important and breaking news stories selected by the editors delivered straight to your inbox each day

  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts

  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot