Levy Amounts
2009/10 initial levy announced in April 2009 - £156m
Under the new funding arrangements set up by the Financial Services Authority (FSA), five new funding classes were established to replace the previous 12 contribution groups. They are:
- deposits:
- general insurance;
- life and pensions;
- investments; and
- home finance.
With the exception of deposits, these five broad classes are divided into sub-classes based on provider/intermediation activities. The levy for each of these sub-classes for 2009/10 is in the table below.
2009/10 initial levy by sub-class
| Sub-class |
£m |
| A1 Deposit |
22.5 |
| B1 General insurance - provision |
69.0 |
| B2 General insurance – intermediation |
8.5 |
| C1 Life & pensions - provision |
2.0 |
| C2 Life & pensions – intermediation |
19.0 |
| D1 Investments – fund management |
4.0 |
| D2 Investments – intermediation* |
30.0 |
| E1 Home finance - provision |
0.0 |
| E2 Home finance – intermediation |
1.0 |
| Total funding requirement |
156.0 |
* FSCS will only levy firms in the class for £30m now. If necessary
a further levy currently estimated at £28m will be
levied later in 2009 (all separate from the interim 2008/09 levy of £38m) |
|