Useful Information
| Financial Services Authority 25 The North Colonade London E14 5HS 020 7066 1000 |
Financial Services Compensation Scheme Lloyds Chambers 7th Floor 1 Portsoken Street London E1 8BN 020 7892 7300 |
| Financial Services Ombudsman South Quay Plaza 183 Marsh Wall London E14 9SR 0845 080 1800 |
The Pension Ombudsman 11 Belgravia Road London SW1V 1RB 020 7834 9144 |
| Pension Advisory Services 11 Belgravia Road London SW1V 1RB 0845 6012923 |
Companies House Registrar of Companies Crown Way Cardiff Wales CF4 3UZ 0870 3333636 |
COMPENSATION LIMITS - AS AT 18/09/2008
The maximum levels of compensation are:
- Deposits: £50,000 per person (for
claims against firms declared in default from 1 October
2007).
100% of the first £50,000.*
- Investments: £48,000 per person.
100% of the first £30,000 and 90% of the next £20,000.
- Mortgage advice and arranging: £48,000
per person (for business conducted on or after 31 October
2004).
100% of the first £30,000 and 90% of the next £20,000.
- Long-term insurance (e.g.
pensions and life assurance): unlimited.
100% of the first £2,000 plus 90% of the remainder of the claim.
- General insurance: unlimited.
Compulsory insurance (e.g. third party motor): 100% of the claim. Non-compulsory insurance (e.g. home and general): 100% of the first £2,000 plus 90% of the remainder of the claim.
- General insurance advice and
arranging: unlimited (for business
conducted on or after 14 January 2005).
100% of the first £2,000 plus 90% of the remainder of the claim. Compulsory insurance is protected in full.
* The FSA changed the rules that govern
compensation payments on 3 October 2008 to increase the total
limit to £50,000. The limit comes into effect on 7 October 2008.
For deposit claims against firms declared in default between 1
October 2007 and 6 October 2008, the maximum level of
compensation is £35,000 (100% of £35,000). For deposit claims
against firms declared in default before 1 October 2007, the
maximum level of compensation is £31,700 (100% of the first
£2,000 and 90% of the next £33,000).
Depositors may still receive a share of their savings above
£50,000 back following any distribution of assets as part of the
insolvency process for a failed bank. This would be a matter for
the insolvency practitioner to determine and any recovery would,
by necessity, vary according to the circumstances of the
specific failure.
The actual level of compensation you receive will depend on the
basis of your claim. FSCS only pays compensation for financial
loss.
Compensation limits are per person (per firm and type of claim).
Slightly different limits and rules apply if you have a claim
against an insurer or a bank that was insolvent before FSCS
became operational (1 December 2001), or if your claim is
against an investment firm that was declared in default before
FSCS became operational.
Useful websites and telephone numbers
The Sharegift
Organisation
To donate shares to charity. Call: 020 7337 0501 or see
www.sharegift.org
The Child Trust fund
Vouchers to eligible children (born on or after 1 September
2002) will start to be sent out in January 2005 and can be
invested in CTF accounts from April 2005. For more information,
see:
www.childtrustfund.gov.uk
The Ombudsman for Estate Agents
Provides an independent complaints hearing and redress service
for clients of member agents. Contact: 01722 333306, or see:
www.oea.co.uk
Premium bonds
To check whether your numbers have come up, call 0845 964 5000
or see www.nsandi.com
Building Societies Association
Provides current names and contact details for societies which
have since been taken over or merged. Contact: 020 7437 0655, or
see: www.bsa.org.uk
Pension Schemes Registry
Tracks down old company pension schemes.
Contact: 0191 225 6316
Retirement Pension Forecasting Team
Provides forecasts of individuals’ state pension entitlement.
Contact: 0845 300 0168
Association of British Insurers
(ABI)
Provides contact details for old life companies and friendly
societies. Contact: 020 7600 3333
Winter fuel payment
£200 payment to households containing a person over the age of
60. Most people will get payments automatically; men turning 60
need to claim, by calling the winter fuel helpline, 0845 915
1515
Lost birth certificate, marriage certificate, divorce
Go to
www.govapproved.ukofficialservice.co.uk
and you can order the missing item over the phone.
NEED AN ACCOUNTANT?
Wrightway’s have long-standing connections with the following accountants:-
| Hedley Dunk Trinity House 3 Bullace Lane Dartford Kent DA1 1BB |
Robson & Co 19 Montpelier Ave Bexley Kent DA5 3AP |
Dyer & Co Onega House 112 Main Road Sidcup Kent DA14 6MG |
Legal advice
At some stage most people need some form of legal advice – purchase of a home, contract law and regrettably in this day and age separation and divorce, and we have strong links with :
Cook Taylor Woodhouse
68 Eltham High Street
London
SE9 1BZ
Woolsey Morris & Kennedy
100 Station Road
Sidcup
Kent
DA15 7DT