The FSCS has said it is ready to discuss its compensation calculation with customers or representatives after three MPs were sent a letter suggesting steelworkers were not being compensated adequately.
The Financial Services Compensation Scheme (FSCS) has responded to allegations that its methodology used to calculate compensation has disadvantaged some steelworkers. Last week Echelon Wealthcare IFA Alastair Rush - who also founded CHIVE, a pro bono group set up to help the steelworkers - sent a letter to three MPs seeking an audience with them to discuss the methodology used by the FSCS to calculate the steelworkers' compensation. The main areas of concern related to the estimated fee costs, the FSCS's take on the value of the workers' pension pots, and the discount rate used by th...
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