FSCS confirms 2021/22 levy forecast

FSCS has confirmed its levy forecast for 2021/22 at £833m.  This is slightly lower than the indicative levy announced in January, partly because extensions of government support are likely to mean some firms will survive another year, and partly because of lower than expected claims in 2020/21 leading to a surplus.  The levy is still a significant increase on the 2020/21 levy, largely due to higher value pension advice claims, payouts in the general insurance class and failures of SIPP operators.

Emma Radmore