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Aifa has pledged to mount a legal challenge against the FSCS if it fails to prove it is acting within its jurisdiction in paying old pension review claims that would be thrown out under general law.
Compensation claims are more than double FSCS forecasts, with firms which were authorised by the PIA facing a predicted doubling of the levy from pound 25m in 2006/07 to pound 45m-50m over the next two years.
The FSCS says claims have rocketed as the combined weight of endowment misselling and pension review complaints have pushed many firms into default....