The Financial Ombudsman Service (FOS) has published a consultation on its proposed plans and budgets for the next financial year (2018/19). The proposals include:
- keeping the case fee at £550, the payment protection insurance supplementary case fee at £0 and a number of “free” cases at 25;
- using an anticipated £62.4 million of its reserve in 2018/19 compared to £0.8 million in the current year;
- freezing the compulsory jurisdiction levy at last year’s level, which was at £24.5 million; and
- a proposed total operating income of £230.7 million.
View FOS consults on plans and budget for 2018/19, 13 December 2017