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You are viewing COMP 4 Eligible claimants as of . COMP 4 Eligible claimants was last updated on 17/03/2026.

COMP 4.1 Application and Purpose

Application

01/12/2001R

This chapter applies to the FSCS.

01/12/2001G

It is also relevant to those who may wish to bring a claim for compensation.

Purpose

01/12/2001G

The purpose of this chapter is to set out the types of person who are able to claim compensation or benefit from the protection the FSCS is able to provide. A claimant needs to be an eligible claimant to satisfy COMP 3.2.1R(1).

COMP 4.2 Who is eligible to benefit from the protection provided by the FSCS?

17/03/2026R

An eligible claimant is any person who at any material time:

  1. (1)

     did not come within COMP 4.2.2 R; or

  2. (2)

     did come within COMP 4.2.2 R, but satisfied the relevant exception in COMP 4.3.

  3. [Note: See COMP 4A.2.2G about special cases in COMP 12A.1 (Trustees and pension schemes) and COMP 12A.3 (Collective investment schemes).]

     

Persons not eligible to claim unless COMP 4.3 applies (see COMP 4.2.1R)

17/03/2026R

This table belongs to COMP 4.2.1R

(1)Firms (other than a sole trader firm; a credit union; or a small business); and overseas financial services institutions
(2)[deleted]
(3)Collective investment schemes, and anyone who is the operator or depositary of such a scheme.
(4)Pension and retirement funds, and anyone who is a trustee of such a fund
(5)Supranational institutions, governments, and central administrative authorities
(6)Provincial, regional, local and municipal authorities
(7)Directors of the relevant person in default or, in respect of a claim against a successor in default, directors of any successor or directors of the relevant person
(8)[deleted]
(9)Bodies corporate in the same group as the relevant person in default or, in respect of a claim against a successor in default, bodies corporate in the same group as a successor or the relevant person, as applicable
(10)[deleted]
(11)[deleted]
(12)Persons who, in the opinion of the FSCS, are responsible for, or have contributed to, the relevant person's (or, where applicable, a successor’s) default
(13)Large companies, large partnerships and large mutual associations
(14)[deleted]
(15)Persons whose claim arises from transactions in connection with which they have been convicted of an offence of money laundering.
(16)[deleted]
(17)Where the claim is in relation to protected non-investment insurance distribution, bodies corporate, partnerships, mutual associations and unincorporated associations which are not small businesses.
(18)Alternative investment funds, and anyone who is the AIFM or depositary of an alternative investment fund.
(19)[deleted]
(20)Where the claim is in relation to protected debt management business, any person other than a natural person.
(21)In relation to a claim in connection with funeral plan provision activity, a customer where the FSCS consider that the claim could be made by a different covered individual who is an eligible claimant.
(22)In relation to a qualifying public offer on a public offer platform, any issuer of such securities.

COMP 4.3 Exceptions: Circumstances where a person coming within COMP 4.2.2R may receive compensation

Liability subject to compulsory insurance

01/10/2018R

A person who comes within COMP 4.2.2R is eligible to claim compensation in respect of a liability subject to compulsory insurance if the claim is in connection with protected non-investment insurance distribution.

Protected home finance mediation

13/12/2013G

There are no exceptions to COMP 4.2.2R for claims made in connection with protected home finance mediation.

Eligibility to claim in specified circumstances

01/04/2018R

The FSCS may treat a person who comes within category (7) or (12) of COMP 4.2.2 R as eligible to claim compensation where:

  1. (1)

    this is desirable to achieve the efficient performance of any of its functions, including without limitation; to achieve the efficient payment of compensation; and

  2. (2)

    treating these persons as eligible to claim compensation would, in the opinion of the FSCS, be beneficial to the generality of eligible claimants who will be affected by the action in (1).

Protected investment business

17/03/2026R

[deleted]

Trustees of pension schemes

17/03/2026R
  1. A person is eligible to claim compensation for claims where they are a trustee of:
    1. (1) a personal pension scheme;
    2. (2) a stakeholder pension scheme (which is not an occupational pension scheme);
    3. (3) an occupational pension scheme insofar as members’ benefits are money-purchase benefits; or

    4. (4) an occupational pension scheme insofar as members’ benefits are not money-purchase benefits; and the employer is not a large company, large partnership or large mutual association.

       

17/03/2026R

A body corporate in the same group as the relevant person in default is eligible to claim compensation for claims where they are:

  1. (1) a trustee of a stakeholder pension scheme (which is not an occupational pension scheme) or a personal pension scheme, provided that if the body corporate is a firm its claim arises out of a regulated activity for which it does not have permission;
  2. (2) a trustee of an occupational pension scheme in relation to members’ benefits which are money-purchase benefits;
  3. (3) trustees of an occupational pension scheme of an employer which is not a large company, large partnership or large mutual association; or

  4. (4) carrying on the regulated activity of operating or winding up a stakeholder pension scheme (which is not an occupational pension scheme) or a personal pension scheme.