FIN.

FSCS sets next year’s levy

FSCS has set its 2019/2020 levy.  It will be £532m, which is slightly more than its forecast, but still less than the 9 month levy for last year (had it been a 12 month levy). FSCS puts the increase down to an uplift in expected claims against SIPP operators and continuing costs in some insurance failures. The main driver, though, continues to be pensions claims, with the bulk of the levy coming from general insurance, life distribution, pensions and investment intermediaries and investment. .

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Emma Radmore