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