Financial Services Compensation Scheme

Engage Mutual is authorised and regulated by the Financial Services Authority (FSA) and is a member of the Financial Services Compensation Scheme (FSCS).

what is the FSCS?

We are covered by the Financial Services Compensation Scheme (FSCS).  You may be entitled to compensation from the FSCS if we cannot meet our obligations.  This depends on the type of business and the circumstances of the claim.

Most types of investment business are covered for 100% up to a maximum limit of £50,000.  For long term insurance business (such as pension plans and life assurance) the FSCS may arrange to transfer your policy to another insurer, provide a new policy or, if these actions are not possible, provide compensation of 90% of the claim, without any upper limit.

when the scheme comes into effect

The compensation scheme comes into effect when the FSCS, or in some cases the FSA, establish that a firm is 'in default'. This means that the organisation is unable, or likely to be unable, to pay claims against it.

further information

Detailed information concerning the operation of the scheme may be obtained via www.fscs.org.uk or by writing to Financial Services Compensation Scheme, 7th Floor, Lloyds Chambers, 1 Portsoken Street, London E1 8BN, or by calling 0207 892 7300.