Annual increase to our award limits

Our award limit is the maximum amount we can require a financial service firm to pay when we uphold complaints. 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:

• £375,000 for complaints referred to us on or after 1 April 2022 about acts or omissions by firms on or after 1 April 2019.

• £355,000 for complaints referred to us between 1 April 2020 and 31 March 2022 about acts or omissions by firms on or after 1 April 2019.

• £350,000 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.

• £160,000 for complaints referred to us after 1 April 2019 about acts or omissions by firms before 1 April 2019.

• £150,000 for any complaints referred to us before 1 April 2019.

The FCA’s policy statement PS19/8 on increasing our award limit sets out the full background. The change can be seen in the FCA's handbook. 

For further enquiries:

• Consumers can contact us online
• Regulated financial services businesses can contact our Business Support Hub
• For media enquiries, call 0207 964 1234