FSCS confirms levies

The latest edition of FSCS’ “outlook” newsletter sets out its latest forecast for the current year, which is lower than previously forecast but still £17m higher than last year’s levy.  It means there will  be no supplementary levy in the current year.

Looking towards 2022-23, FSCS estimates a levy of £900m, assuming, among other things, significant increases in SIPP operator compensation payouts and ongoing increasing costs in the life distribution and investment intermediation classes.