Compensation limits

Here you can find the FSCS compensation limits for each financial product we protect. The UK regulators, the Financial Conduct Authority and the Prudential Regulation Authority, set the financial compensation limits and compensation rules.


Compensation limits explained

 

Banks & building societies (deposits)

£85,000 per person, per authorised bank or building society. £170,000 for joint accounts.
£1 million for certain life events up to six months from when the amount was first deposited. Unlimited for personal injury claims.

Credit unions (deposits)

£85,000 per person per firm. £170,000 for joint accounts.
£1 million for certain life events up to six months from when the amount was first deposited. Unlimited for personal injury claims.

Debt management

£50,000 100% of the first £50,000, per person per firm.

Endowments

£50,000 per person per firm.
100% of the first £30,000 and 90% of the next £20,000 up to £48,000 per person per firm.
The above dates relate to when the firm failed, not when you received your advice.

Home finance (including mortgage advice)

£50,000 per person, per authorised bank or building society.
100% of the first £30,000 and 90% of the next £20,000 up to £48,000 per person per firm.
The above dates relate to when the firm failed, not when you received your advice.

Insurance companies

General insurance
100% protected where claims:
  • arise in respect of a liability subject to compulsory insurance; or
  • arise in respect of a liability subject to professional indemnity insurance; or
  • arise from the death or incapacity of the policyholder due to injury, sickness, or infirmity.
90% protected where claims arise under other types of policy with no upper limit.
100% protected for compulsory insurance claims (e.g., third-party motor and employers' liability).
90% protected for non-compulsory insurance claims.
100% protected for compulsory insurance claims (e.g., third-party motor and employers' liability).

For claims under other types of policy
Maximum level of compensation is 100% of the first £2,000 plus 90% of the remainder with no upper limit.
100% protected for compulsory insurance claims (e.g., third-party motor and employers' liability).
90% protected for non-compulsory insurance claims.
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No protection is available for goods in transit, marine, aviation and credit insurance. Contracts of reinsurance are also not protected.

The above dates relate to when the firm failed, not when you received your advice.
Long-term insurance (e.g. pensions and life assurance)
100% of the claim with no upper limit.
90% of the claim with no upper limit.


100% of the first £2,000 plus 90% of the first remainder.
The above dates relate to when the firm failed, not when you received your advice.

Insurance brokers

90% of the total claim.
100% of the first £2,000, per person per firm then 90% of the remainder.
The above dates relate to when the firm failed, not when you received your advice.

Investments (this includes bad advice, poor investment management or misrepresentation and negligence claims relating to mis-selling of pensions)

£50,000 per person per firm.
100% of the first £30,000 and 90% of the next £20,000 up to £48,000 per person per firm.
The above dates relate to when the firm failed, not when you received your advice.

Payment protection insurance (and arrangement of other insurance products)

90% of the total claim.
100% of the first £2,000, per person per firm then 90% of the remainder.
The above dates relate to when the firm failed, not when you received your advice.

Pensions (compensation limit is dependent on how the pension funds are invested)

£85,000 per person per firm.
up to £50,000 per person per firm.
100% protected
100% protected
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Read our eligibility rules for information about which types of claim are eligible for compensation.

 

Your legal rights and FSCS compensation

If you have a successful claim, FSCS will pay compensation up to the limit that applies. When you accept this payment, you transfer your legal rights against the firm and any other relevant party to FSCS. We explain this as part of the application process. This means you can no longer claim against the firm or any other relevant party. FSCS will pursue recoveries against them. Depending on the circumstances of your case, if we make any recoveries we may be able to pay some of these recoveries to you. FSCS makes recoveries for the benefit of its levypayers or compensated claimants. But if your claim is rejected, or until you accept our compensation, you are free to pursue the firm or any third party yourself - FSCS will not do so on your behalf.