The rise of claims related to self-invested personal pensions (SIPPs) last year was just one example of how things "accelerate more quickly" than expected by the FSCS, chief executive Mark Neale has said.
In his monthly ‘Perspectives' blog, Neale (pictured) suggested impending claims volumes were impossible to predict and could jump dramatically because of the actions of just one firm. He said: "Things don't always turn out as we forecast: far from it. "Trends accelerate more quickly than we expect. That was true of SIPP-related claims. "In some cases, claims can jump because of the actions of a single firm. That happened last year when mortgage advice claims suddenly leapt because of misselling by Fuel Investments Ltd." The Financial Services Compensation Scheme (FSCS) paid ou...
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