FSCS warns industry levy set to rise to £415m for 2024/25

2023/24 remains at £270m

The Financial Services Compensation Scheme (FSCS) is set to increase its levy to £415m for the 2024/25 financial year.

Its latest Outlook publication confirmed this year's levy would remain at £270m, with no additional demands for the rest of the financial year. However, its forecast levy for 2024/25 is a much higher £415m. It said the "indicative figure is higher than for 2023/24, primarily due to larger surpluses that were carried over from the 2022/23 financial year which reduced the 2023/24 levy to £270m".  FCA scraps plans to exclude retail LTAF from FSCS cover The body also said it had increased its levy for the next financial year as it expected: Investment and pension advice...