2024-25 FSCS expects to pay £363m compensation with a reduced levy of £265m for financial firms.

The Financial Services Compensation Scheme (FSCS) expects to pay £363m in compensation during the 2024-25 fiscal year, with a reduced levy of £265m for financial firms. The FSCS provides safety for customers of authorised financial services firms that have failed or ceased trading, covering products like bank deposits, investments, pensions, insurance, and funeral plans. A surplus of funds has been used to offset the 2024-25 levy.

May 23, 2024
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