On 24 May 2024, the Financial Services Compensation Scheme (FSCS) published its Outlook Report for May 2024.
The Outlook Report provides an update on compensation figures and the levy for 2024/25, following the ‘first look’ that was published in November 2023.
The Outlook Report highlights that the annual levy for 2024/25 is now £265 million. This is lower than the indicative levy announced in the November 2023 Outlook, and a small decrease from the final 2023/24 levy of £270 million.
The Outlook Report also outlines updates on figures for:
- Deposits.
- General Insurance Provision.
- Life and Pensions Provision.
- General Insurance Distribution.
- Life Distribution and Investment Intermediation.
- Investment provision.
- Home Finance Intermediation.
- Debt Management.
- Funeral Plans.