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.

Click here for FSCS Website

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
G
o 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