The Fraud Compensation Fund

FCF sets levy for 24/25

We’ve confirmed that the Fraud Compensation Fund (FCF) levy for 24/25 will be set at the same level as it was for the previous year.

Our submission to Norton pension schemes select committee inquiry

Our submission to the Work & Pensions Select Committee to support its inquiry into the Norton pension schemes and the Fraud Compensation Fund (FCF) has been published.   

DWP consult on proposed changes to FCF regulations

Take part in a new consultation on allowing us to make interim payments to schemes with exhausted assets.

DWP consults on FCF levy from 2022/23

The Department for Work and Pensions (DWP) has launched a consultation on the future rate of the FCF levy.

Compensation (LCF & FCF) Bill gets Royal Assent

Our Annual Report and Accounts 2020/21 reported that the FCF’s assets at 31 March 2021 were £33.9m. At the same date, we’d already received nine claims totalling £47.3m, and we’re aware of 117 more possible applications totalling £358.1m.

Fraud Compensation Fund eligibility criteria confirmed

In a ruling on 6 November 2020, the High Court clarified how the legislation governing the FCF should be interpreted.

Fraud Compensation Fund levy for 2021/22 confirmed

Last November a court ruling clarified that occupational pension schemes set up as part of a scam were eligible to claim on the Fraud Compensation Fund(FCF)