Compensation
Aviva raises compensation pot for Friends Provident transfers
Firm increased payout budget by £175m
Cost of bad pension transfer advice doubles in two years
Exclusive data from the FSCS shows £40m was paid in 2018, up from £20m in 2016
UK compensation scheme declares nine firms in default
Since 2001, more than 4.5 million people got £26bn in compensation
Offshore Bonds | 19 Jul 18
UK compensation scheme battles death bond fund
The UK’s Financial Services Compensation Scheme (FSCS), which helps consumers when authorised financial services firms fail, is battling to recover money paid out to investors in a fund that went into liquidation but has since resumed making distributions.
Sipp complaints help push UK compensation to £405m
Customers of failed financial services firms received £405m (€458m, $530m) in compensation from the Financial Services Compensation Scheme (FSCS) in 2017/18, in part driven by a rise in Sipp complaints.