FSCS revises levy forecasts

May 2021

As mentioned in a previous news story, the FSCS has confirmed in its Outlook publication that the forecast on which the total FSCS levy for 2021/22 is based has been reduced from £1.03 billion £833million.

The Total 2021/22 levy forecast for the GI Distribution class is reducing from £146.8m to £74m. This includes a substantial contribution to the retail pool which will be levied separately after the annual fees invoice becomes due for payment (as the final amount has yet to be confirmed).

The FCA should be revising its fee calculator in due course.

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