FSCS funding again under the spotlight after supplementary levy announcement
Advisers to pay extra £8m towards scheme
Since May 2020, the FSCS has seen a rise in pension advice claims of 45% and a 5% increase in average compensation costs.
The Financial Services Compensation Scheme (FSCS) levy has introduced a £92m supplementary levy for the current financial year.
The scheme said the supplementary levy was a result of increased compensation payouts to customers and pension advice claims resulting from more firms failing. The scheme estimated it would require...
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