Displaying items by tag: claims

The Financial Services Compensation Scheme (FSCS), the safety net scheme for consumers, paid out £423m in compensation to customers during its 2023/24 year, £20m higher than the previous year.

The Financial Services Compensation Scheme (FSCS), the industry-funded safety net for consumers, has warned it is seeing a rise in more complex SIPP claims after it paid out a total of £423m in compensation in its 2023/24 year. 

Two pension adviser firms have been declared as failed by the Financial Services Compensation Scheme with one being hit with a successful SIPP claim.

The Financial Services Compensation Scheme (FSCS) has awarded the contract for its core claims handling to professional services giant PwC.

Redditch-based Go IFA Ltd has become the fifth advice firm this week to be declared as failed or under investigation by the FSCS.

John Moret is one of the UK's leading pensions and SIPP experts and commentators. As he enters his 75th year, still working part-time, he continues his series of articles looking back at his long career and key topics which have steered the pensions sector. In this second article he reviews the impact of the 'Dear CEO' letter the FCA sent to SIPP firms recently and what it means for regulation.

The Financial Services Compensation Scheme has begun an investigation into Chester-based pension adviser Arrow Financial Services UK Ltd, trading as Arrow Asset Management (FRN 528826).

SIPP provider DAC Pensions - which had more than 600 clients and nearly £27m in assets under administration - has been declared in default by the FSCS, opening the door to compensation claims.

The  Financial Services Compensation Scheme (FSCS) has today declared 13 firms in default - most of them adviser businesses - opening the door to clients claiming compensation.

The Financial Services Compensation Scheme has declared five pension advice firms as failed this week - four of them for pension transfer advice complaints.