FSCS: Interim levies unlikely this year

Life and pensions advisers suffered a double blow earlier in 2015 when they were asked to contribute towards a £20m interim levy for 2014/15 in March and then, a month later, discovered their share of the FSCS's annual levy for 2015/16 was rising to £100m, markedly above the amount forecast. Both actions were as a result of claims relating to bad advice by financial advisers to transfer funds from existing pension schemes into self-invested personal pensions (SIPPs). The prospect of another interim levy on life and pensions advisers - and potentially on all advisers - looked distinctl...