FSCS has announced that its levy for 2015/16 will be £319m – a £32m increase in the amount which it set out in its Plan and Budget at the start of the year.  FSCS has stated that the increase is largely due to a rise in claims relating to self-invested personal pensions.  Whilst the life and pensions intermediation sector will have a £100m levy in 2015/16, FSCS has stated that the general insurance intermediation sector will not have a levy bill in the same year due to the declining numbers of PPI claims.

Full details of the annual levy can be read in FSCS’s industry newsletter Outlook