The Financial Services Compensation Scheme (FSCS) has announced its levy for 2016/17.
The FSCS will levy £337m in this financial year, which is £26m less than forecast in its Plan and Budget for 2016/17 published in January. Management expenses fall for the second successive year and will total £67.4m in 2016/17.
Most industry sectors will contribute less in 2016/17 than the FSCS forecast in January. The exception is the life and pensions intermediaries sector, which will pay a levy of £90m in 2016/17 – up from a forecast of £80m, to reflect a higher average cost of claims arising from advice about investments in self-invested personal pensions.
View FSCS announces 2016/17 final levy, 26 April 2016