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<br /> Plan and Budget: 2016 /17<br /> Financial Services Compensation Scheme<br /> Strategic Management Compensation Annual Levy<br /> Direction Expenses Costs and 2016/17<br /> Levies<br /> <br /> Contents<br /> Chairman’s Foreword 4<br /> Chief Executive’s Overview 6<br /> Strategic Direction:<br /> taking forward our Five Year Vision 8<br /> Management Expenses 10<br /> Compensation Costs and Levies 14<br /> Annual Levy 2016/17 16<br /> Annex 24<br /> 3<br /> Chairman’s Foreword<br /> The Chief Executive’s report<br /> highlights the progress we want<br /> to make in some key areas over<br /> the comin<a title="FSCS Plan and Budget 2016/17 page 1" href="http://viewer.zmags.com/publication/904dc2f8?page=1"> Plan and Budget: 2016 /17 Financial Services Comp</a> <a title="FSCS Plan and Budget 2016/17 page 2" href="http://viewer.zmags.com/publication/904dc2f8?page=2"> </a> <a title="FSCS Plan and Budget 2016/17 page 3" href="http://viewer.zmags.com/publication/904dc2f8?page=3"> Contents Chairman’s Foreword </a> <a title="FSCS Plan and Budget 2016/17 page 4" href="http://viewer.zmags.com/publication/904dc2f8?page=4"> Chairman’s Foreword </a> <a title="FSCS Plan and Budget 2016/17 page 5" href="http://viewer.zmags.com/publication/904dc2f8?page=5"> £67.4m proposed management expenses budget in 201</a> <a title="FSCS Plan and Budget 2016/17 page 6" href="http://viewer.zmags.com/publication/904dc2f8?page=6"> Chief Executive’s Overview </a> <a title="FSCS Plan and Budget 2016/17 page 7" href="http://viewer.zmags.com/publication/904dc2f8?page=7"> the IT and data infrastructure on which we, our c</a> <a title="FSCS Plan and Budget 2016/17 page 8" href="http://viewer.zmags.com/publication/904dc2f8?page=8"> Strategic Direction: taking forward our Five Year</a> <a title="FSCS Plan and Budget 2016/17 page 9" href="http://viewer.zmags.com/publication/904dc2f8?page=9"> We have begun this process by re-organising our s</a> <a title="FSCS Plan and Budget 2016/17 page 10" href="http://viewer.zmags.com/publication/904dc2f8?page=10"> Management Expenses Management expenses budge</a> <a title="FSCS Plan and Budget 2016/17 page 11" href="http://viewer.zmags.com/publication/904dc2f8?page=11"> Figure 1: Management expenses budget 2015/16 Budg</a> <a title="FSCS Plan and Budget 2016/17 page 12" href="http://viewer.zmags.com/publication/904dc2f8?page=12"> Allocation to funding classes The FSCS 2016/17 ma</a> <a title="FSCS Plan and Budget 2016/17 page 13" href="http://viewer.zmags.com/publication/904dc2f8?page=13"> £5.3m reserve for 2016/17, the same level as 2015</a> <a title="FSCS Plan and Budget 2016/17 page 14" href="http://viewer.zmags.com/publication/904dc2f8?page=14"> Compensation Costs and Levies Since 1 April 2</a> <a title="FSCS Plan and Budget 2016/17 page 15" href="http://viewer.zmags.com/publication/904dc2f8?page=15"> The 36-month compensation cost levy has a five-ste</a> <a title="FSCS Plan and Budget 2016/17 page 16" href="http://viewer.zmags.com/publication/904dc2f8?page=16"> Annual Levy 2016/17 The indicative 2016/17 an</a> <a title="FSCS Plan and Budget 2016/17 page 17" href="http://viewer.zmags.com/publication/904dc2f8?page=17"> £363m indicative 2016/17 annual levy Figure 3: 20</a> <a title="FSCS Plan and Budget 2016/17 page 18" href="http://viewer.zmags.com/publication/904dc2f8?page=18"> Figure 5: Forecast funding requirements by fundin</a> <a title="FSCS Plan and Budget 2016/17 page 19" href="http://viewer.zmags.com/publication/904dc2f8?page=19"> 2016/17 We expect to see a decline in overall cla</a> <a title="FSCS Plan and Budget 2016/17 page 20" href="http://viewer.zmags.com/publication/904dc2f8?page=20"> Figure 6: Claims assumptions 2015/16 and 2016/17 </a> <a title="FSCS Plan and Budget 2016/17 page 21" href="http://viewer.zmags.com/publication/904dc2f8?page=21"> Deposits (SA01) Based on our recent experience of</a> <a title="FSCS Plan and Budget 2016/17 page 22" href="http://viewer.zmags.com/publication/904dc2f8?page=22"> We will also continue to make payments on the rec</a> <a title="FSCS Plan and Budget 2016/17 page 23" href="http://viewer.zmags.com/publication/904dc2f8?page=23"> £16m final Lifemark distribution In the Invest</a> <a title="FSCS Plan and Budget 2016/17 page 24" href="http://viewer.zmags.com/publication/904dc2f8?page=24"> Annex Key achievements in 2015/16 – second year o</a> <a title="FSCS Plan and Budget 2016/17 page 25" href="http://viewer.zmags.com/publication/904dc2f8?page=25"> Vision imperative Improving value for money (VFM)</a> <a title="FSCS Plan and Budget 2016/17 page 26" href="http://viewer.zmags.com/publication/904dc2f8?page=26"> Focus for 2016/17 – third year of strategy </a> <a title="FSCS Plan and Budget 2016/17 page 27" href="http://viewer.zmags.com/publication/904dc2f8?page=27"> Vision imperative Achieving excellence as a credi</a> <a title="FSCS Plan and Budget 2016/17 page 28" href="http://viewer.zmags.com/publication/904dc2f8?page=28"> Financial Services Compensation Scheme 10th Floor</a>