FSCS protects consumers when an authorised financial services firm goes bust. This means FSCS can pay compensation to consumers if a financial services firm is unable, or likely to be unable, to pay claims against it. We refer to this as being in default.
FSCS compensation arrangements for different financial services.
There are limits to the protection FSCS provides which vary by financial product. The FSCS protects:
So the compensation limit for retirement savings will depend on the exact nature of the product (or products) you buy.
Before we can consider a claim for compensation we must be satisfied that the firm your claim is against was authorised by the PRA or the FCA and has been declared in default.
Am I eligible?
You may also find the Questions and Answers in our Pensions (Retirement savings) section helpful.
If you need to make a claim then please contact us, as there are a number of different categories under which your pension claim might fall.
For more information on your pensions options, visit the Pensions Advisory Service, a free and impartial service set up by the government.
The Financial Conduct Authority website includes a searchable database of all firms authorised and regulated by the FCA and the Prudential Regulation Authority (PRA).