Following consultation, the FCA has confirmed that our award limits are increasing. Our award limit is the maximum amount we can require financial services firms to pay when we uphold complaints.

From 1 April 2019 our current award limit of £150,000 will change to:

  • £350,000 for complaints about acts or omissions by firms on or after 1 April 2019
  • £160,000 for complaints about acts or omissions by firms before 1 April 2019, and which are referred to our service after that date

And from 1 April 2020 onwards, both award limits will be automatically adjusted each year in line with inflation, as measured by the Consumer Prices Index (CPI).

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. The FCA’s recent policy statement on increasing our award limit sets out the full detail of the change.

For further enquiries:

Latest news

Redress system reforms to prevent compensation delays and provide predictability needed for innovation

15 July 2025

The Financial Conduct Authority (FCA) and Financial Ombudsman Service are seeking to modernise the financial redress system to help prevent it becoming overwhelmed, delaying consumer compensation.

Press release

Read more 

Financial Ombudsman Service announces change to compensation interest levels

15 July 2025

Today we announced plans to change the interest rate applied to the compensation awarded to consumers.

Press release

Read more 

Financial Ombudsman Service receives over 305,000 complaints in 2024/25

2 July 2025

Financial complaints are at their highest level in six years, according to new annual figures.

Annual data Complaints data Annual report Press release CMC

Read more