The Financial Conduct Authority (FCA) has confirmed an increase to the Financial Ombudsman Service’s (FOS’s) award limits for the next financial year.
The award limit is the maximum amount the FOS can ask a financial business to pay when it upholds complaints. Each year the limit is adjusted in line with inflation, as measured by the Consumer Prices Index (CPI), the FOS said. From 1 April 2026, the award limits will increase to £455,000 for complaints about acts or omissions by firms on or after 1 April 2019. This is an increase of £10,000 on the previous year. Additionally, complaints about acts or omissions by firms before 1 April have risen £5,000 to £205,000. Changes to the FOS's award limit are designed to ensure "fair co...
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