FSCS to pay out £372 million in 2024/25, up from £363 million, due to rise in complex claims.

The Financial Services Compensation Scheme (FSCS) will pay out £372 million in 2024/25, up from the forecast £363 million, due to an increase in complex advice claims. Two-thirds of these claims are now considered highly complex, needing more time and resources. Despite this, the 2024/25 levy remains at £265 million, but the forecast for 2025/26 is £394 million. The FSCS has appointed PwC as its new claims partner to improve efficiency.

November 19, 2024
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