Update on how your ReAssure policy is protected
If a finance firm goes out of business and can’t pay claims against it, you may be able to claim compensation from the Financial Services Compensation Scheme (FSCS). There are limits to the amount of protection the FSCS provides which differ based on the type of product you hold.
Recently plans have been released to increase some FSCS limits. Theses updates affect ‘deposit takers’ (banks and building societies) so will only affect a small number of ReAssure customers.
How do I know if I’m affected by the new limits
The new limits only apply to customers who have a specific type of policy called a ‘Self-Invested Personal Pension’. This is a very specialised type of pension, one that you would usually have used a financial adviser to set up.
What are the current FSCS compensation limits?
For the majority of our customers the FSCS provides unlimited protection for your savings with ReAssure.
You can find out more about your money’s protection by using the FSCS protection checkers at fscs.org.uk/check.
