UK compensation body raises levy to meet rising pension claims
Firms advising people on transferring pension schemes will have to pay a higher levy to Britain’s statutory compensation body to help meet claims from steelworkers.
The Financial Services Compensation Scheme (FSCS) said it will levy financial firms 407 million pounds ($559.63 million) overall in the financial year that began last month, up 71 million pounds on the prior period.
The FSCS can pay compensation if a firm is unable to pay claims against it.
Read More: Reuters
