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FSCS announces Plan and Budget

FSCS has published its full Plan and Budget for 2020/2021. As well as the indicative levy of £635m (£87m more than the current year, mainly because of a rise in SIPP operator claims) and management expenses budget of £78.2m, it proposes a supplementary levy of £50m from the Life Distribution, Pensions and Investment Intermediation class because of increased claims volumes and defaults. But it will also refund £30m to firms in the Deposits class.

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Emma Radmore