Rising SIPP claims push FSCS levy to £635m
SIPP claims up 114% year on year
FSCS chief executive Caroline Rainbird
Advisers face increased Financial Services Compensation Scheme (FSCS) bills as the body is set to raise its overall levy to £635m for 2020/21 with intermediaries stumping up £213m.
The total levy is up £87m on the previous year. The FSCS blamed increased self-invested personal pension (SIPP) operator failures for the rise. Collectively, advisers will be billed £213m for the 2020/21...
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