As from 1 April 2022 the Financial Ombudsman Service (FOS) will be able to award up to £375,000.00 for all successful complaints made to FOS after that date relating to actions on or after 1 April 2019.
Also, as from 1 April 2022 the limit for compensation will rise to £170,000.00 relating to actions before 1 April 2019.
However, complaints referred to FOS before 1 April 2019 will remain capped at £150,000.00.
The above limits will now be adjusted each year in line with inflation.
