Amount of FSCS Compensation

1. How will my compensation be calculated, and what compensation will I receive from the FSCS?

This will be based on the account balance / information the FSCS receives from KPMG. The FSCS can pay up to £50,000 in compensation per claim.

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2. Should I await a dividend from the Administrator, or make a claim with FSCS instead. What can I claim from FSCS if I get the dividend first?

It is for individuals to choose which claim to pursue, but it is possible to have a claim in both places at the same time.

If FSCS pays compensation, it will then take over your claim in the administration and receive all future dividends that would otherwise have been due to you (and will pay some or all of that dividend on to you if you are still suffering a loss after the FSCS payment).

If the administrator pays first, FSCS will deduct that amount from your loss calculation and pay you up to £50,000 to cover your remaining shortfall. You can, however, choose to refuse our offer of compensation and continue your full claim in the administration.  After you have received any dividend(s) from KPMG you can then return to FSCS to claim for any remaining shortfall.

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