Written Question·Treasury·UIN HL1951
Annuities: Financial Services Compensation Scheme
Tabled: 13 July 2026
Answered: 17 July 2026
Question
To ask His Majesty's Government whether the Financial Services Compensation Scheme would pay out 100 per cent of all life annuity or bulk purchase annuity contracts, in the event that the annuity company or its underwriters or reinsurers were to fail and
Answer
The Financial Services Compensation Scheme (FSCS) funds its compensation costs through levies on the financial services sector and recoveries against firms that have failed. As FSCS levies industry following payment of compensation or securing continuity ...
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