The Financial Services Compensation Scheme (FSCS) has published its Annual Report and Accounts for 2015/16.
Among the main facts and figures for 2015/16:
- the FSCS received 46,896 new claims for consumers during 2015/16, compared with 53,662 claims received for the previous year;
- the total compensation in 2015/16 was £271m, down from £327m in 2014/15;
- management expenses for the year were £66m, compared with £71,5m in 2014/15;
- the levies received totalled £1,09bn, compared with £1,08bn in 2014/15. This figure includes the interest cost and capital repayment levy for the banking failures of 2008/09; and
- the increase in average compensation payment for a Self-Invested Personal Pension-related claim was £38,609 up from £29,505 in 2014/15.
View FSCS Annual Report and Accounts 2015/16, 13 July 2016