On 24 May 2024, the Financial Services Compensation Scheme (FSCS) published its Outlook Report for May 2024.

The Outlook Report provides an update on compensation figures and the levy for 2024/25, following the ‘first look’ that was published in November 2023.

The Outlook Report highlights that the annual levy for 2024/25 is now £265 million. This is lower than the indicative levy announced in the November 2023 Outlook, and a small decrease from the final 2023/24 levy of £270 million.

The Outlook Report also outlines updates on figures for:

  • Deposits.
  • General Insurance Provision.
  • Life and Pensions Provision.
  • General Insurance Distribution.
  • Life Distribution and Investment Intermediation.
  • Investment provision.
  • Home Finance Intermediation.
  • Debt Management.
  • Funeral Plans.