FSCS payouts for SIPP-related claims against IFAs jump 50%

Scott Sinclair
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The average compensation payout for a SIPP-related claim against failed IFAs rose almost 50% in 2014-15 against the previous 12 months, prompting a £20m interim levy on life and pensions advisers.

The Financial Services Compensation Scheme (FSCS) said the average payment climbed from about £11,100 in 2013-14 to almost £16,400 in the following year. The increase in the average value of a s...

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