FSCS declares 24 pensions and investment firms in default

Of the 24 life and pensions and investment firms declared in default, 20 were investment-based companies, with the remainder life and pensions businesses. A further seven were classed as general insurance firms. The full list of those declared in default can be found below. A declaration of default means the FSCS is satisfied a firm is unable to pay claims for compensation made against it. Customers of a defaulted firm can then make a claim for compensation from the compensation scheme. The FSCS recently announced a supplementary levy for life and pensions advisers following "unforese...