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<br /> Plan and Budget: 2017/18<br /> Financial Services Compensation Scheme<br /> Strategic Management Compensation Annual Levy<br /> Direction Expenses Costs and 2017/18<br /> Levies<br /> <br /> Contents<br /> Chair’s Foreword 4<br /> Chief Executive’s Overview 6<br /> Strategic Direction: taking forward our Five Year Vision 8<br /> Management Expenses 16<br /> Figure 1: Management expenses budget – by activity 17<br /> Figure 2: Split of management expenses for 2017/18 19<br /> Compensation costs and levies 20<br /> Annual Levy 2017/18 20<br /> Figure 3: 2016/17 final levy compared with<br /> 2017/18 indicative levies by funding class 20<br /> O<a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 1" href="http://viewer.zmags.com/publication/b524dc2a?page=1"> Plan and Budget: 2017/18 Financial Services Compe</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 2" href="http://viewer.zmags.com/publication/b524dc2a?page=2"> </a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 3" href="http://viewer.zmags.com/publication/b524dc2a?page=3"> Contents Chair’s Foreword </a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 4" href="http://viewer.zmags.com/publication/b524dc2a?page=4"> Chair’s Foreword We publish our Plan and Budg</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 5" href="http://viewer.zmags.com/publication/b524dc2a?page=5"> £9m Continuing investment to maintain IT infrastr</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 6" href="http://viewer.zmags.com/publication/b524dc2a?page=6"> Chief Executive’s Overview FSCS is now just o</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 7" href="http://viewer.zmags.com/publication/b524dc2a?page=7"> £5m Savings at current claims volumes This will</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 8" href="http://viewer.zmags.com/publication/b524dc2a?page=8"> Strategic Direction: taking forward our Five Year</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 9" href="http://viewer.zmags.com/publication/b524dc2a?page=9"> Serving our customers (previously modernising our</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 10" href="http://viewer.zmags.com/publication/b524dc2a?page=10"> 82% Customer trust in FSCS Diversifying how w</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 11" href="http://viewer.zmags.com/publication/b524dc2a?page=11"> Improving value for money (VFM) to drive value fo</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 12" href="http://viewer.zmags.com/publication/b524dc2a?page=12"> Deepening contingency planning to be ready to res</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 13" href="http://viewer.zmags.com/publication/b524dc2a?page=13"> Achieving excellence as a creditor We shall c</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 14" href="http://viewer.zmags.com/publication/b524dc2a?page=14"> Raising awareness of the protection FSCS provides</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 15" href="http://viewer.zmags.com/publication/b524dc2a?page=15"> £50 Average saving per employee Engaging our </a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 16" href="http://viewer.zmags.com/publication/b524dc2a?page=16"> Management Expenses The FSCS Board approved a</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 17" href="http://viewer.zmags.com/publication/b524dc2a?page=17"> £69.2m proposed management expenses budget for 20</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 18" href="http://viewer.zmags.com/publication/b524dc2a?page=18"> “Change” spend Of the sums allocated to Investmen</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 19" href="http://viewer.zmags.com/publication/b524dc2a?page=19"> £5.3m Reserve for 2017/18, the same level as the </a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 20" href="http://viewer.zmags.com/publication/b524dc2a?page=20"> Compensation costs and levies Annual Levy 2017/1</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 21" href="http://viewer.zmags.com/publication/b524dc2a?page=21"> Our calculations Under our rules we may levy for</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 22" href="http://viewer.zmags.com/publication/b524dc2a?page=22"> Claims assumptions In forecasting the claims </a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 23" href="http://viewer.zmags.com/publication/b524dc2a?page=23"> 2017/18 We expect to see a decline in overall cla</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 24" href="http://viewer.zmags.com/publication/b524dc2a?page=24"> Deposits (SA01) Based on our recent experience of</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 25" href="http://viewer.zmags.com/publication/b524dc2a?page=25"> SIPP-related claims continue to rise Life and p</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 26" href="http://viewer.zmags.com/publication/b524dc2a?page=26"> Annex 1 Management expenses budget for 2017</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 27" href="http://viewer.zmags.com/publication/b524dc2a?page=27"> 27</a> <a title="201617 FSCS Plan and Budget 2017 FINAL Zmags page 28" href="http://viewer.zmags.com/publication/b524dc2a?page=28"> Financial Services Compensation Scheme 10th Floor</a>