FOS – Annual increase to our award limits
Regulatory Updates | 23/03/20
This limit is adjusted each year in line with inflation, as measured by the Consumer Prices Index (CPI). From 1 April 2020, our award limits will change to:
• £355,000 for complaints referred to us on or after 1 April 2020 about acts or omissions by firms on or after 1 April 2019
• For complaints about acts or omissions by firms before 1 April 2020 and which are referred to our service after that date, the limit will remain at £160,000
For complaints referred to us between 1 April 2019 and 31 March 2020 about acts or omissions by firms on or after 1 April 2019, the limit will be £350,000 and for any complaints referred to us before 1 April 2019, the limits will remain at £150,000. We will be updating the guidance on our website to reflect these changes from the 1 April.
