FSCS payout on Lifetime Sipp claims hits £40mn

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FSCS payout on Lifetime Sipp claims hits £40mn
To date the FSCS has received 1,300 claims for Lifetime SIPP Company (Pexels/Alaur Rahman)

The Financial Services Compensation Scheme has paid a total of £40.4mn on Lifetime Sipp claims as the defunct Sipp provider’s administrators say the majority of creditors are yet to submit claims.

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