Investment - Articles - PIMFA welcomes significant reduction in FSCS levy


PIMFA has welcomed news of a reduction in the annual Financial Services Compensation Scheme (FSCS) levy for 2024/25 from the forecast £415m in November 2023 to £265m today.

 Simon Harrington, Head of Public Affairs at PIMFA, commented: “We welcome the reduction of the annual FSCS levy for 2024/25. This will come as welcome relief for firms and reduce their outgoings for the coming year allowing them to focus investment internally rather than on servicing the cost of regulation.
 
 “We are particularly pleased to see that the FSCS has managed to recover a significant amount from failed firms over the reporting period and this is something which we would like to congratulate the FSCS on.
 
 “We have always been clear that more focus should be placed on recovery in pursuit of reducing the levy and while we accept that recoveries are difficult and even harder to plan for, this represents significant progress on behalf of the FSCS and the Levy more generally.”
  

Back to Index


Similar News to this Story

Targeted Support major step towards addressing support gap
Targeted Support is poised to play a pivotal role for potentially millions of non-advised individuals. Non-advised could be supported with at retireme
FCA proposals for millions to navigate their financial lives
Millions more people could get help navigating their financial lives with support on pensions and investments, under proposals announced today by the
Comments on FCA proposals on navigating financial lives
Aviva, Just Group, Standard Life, Scottish Widows and the ABI comment on FCA proposals on navigating financial lives

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.