Consultation on compensation interest levels launched by the Financial Ombudsman Service
4 June 2025
Today we opened a consultation on the interest rate applied to the compensation awarded to consumers.
The Financial Conduct Authority (FCA) has confirmed the increase to our award limits for the coming financial year.
Our award limit is the maximum amount we can require a financial business to pay when we uphold complaints. This limit is adjusted each year in line with inflation, as measured by the Consumer Prices Index (CPI).
The FCA has confirmed that, from 1 April 2024, our award limits will go up to:
Different limits apply depending on when the complaint was brought to us. You can read about current and previous limits on our understanding compensation page.
We will be updating the guidance on our website to reflect these changes from 1 April 2024.
The FCA’s policy statement PS19/8 sets out the full background to increasing our award limits. You can see this change in the FCA Handbook.
4 June 2025
Today we opened a consultation on the interest rate applied to the compensation awarded to consumers.
22 May 2025
We have raised more than £30,000 for Sands, the UK’s leading pregnancy and baby loss charity – hitting our two-year fundraising target in just 12 months.
6 May 2025
Data published today shows how many complaints we received about financial businesses in the second half of 2024.