FSCS lowers total levy to £337m but SIPP advisers see bills rise

The body said the total demand was £26m less than originally forecast in its plan and budget for the year published in January. The levy in 2015/16 totalled £319m. It added management expenses fell for the second successive year. In 2016/17, the budget totals £67.4m. The FSCS said while most industry sectors will contribute less in 2016/17 than originally projected life and pensions intermediaries would pay more. Advisers in this sector face a bill of £90m for 2016/17 - up from a forecast of £80m. The FSCS said this was down to the higher average cost of claims arising from advi...