CSLR declares likely underspend - Financial Newswire

CSLR spends less than levy estimate

The slow rate of claims received by the CSLR means it will not use the full amount of levy collected from financial advisers.

CSLR Underspend Due to Lower Claims

The Compensation Scheme of Last Resort (CSLR) will not fully utilise the $24.1m levy raised for the 2025 financial year, as slower claim processing moves payments into future years. Although the volume of claims originally forecast in December 2023 is still expected to materialise, delays in cases reaching the CSLR mean a significant portion will […]

CSLR declares likely underspend - Financial Newswire

In what represents a rare slice of good Compensation of Last Resort (CSLR) news for financial advisers, the scheme has announced that an underspend will occur this financial year. The CSLR said that the status of lodged claims likely to be paid in the current financial year against the $24.1 million levied will not be fully utilised. “The claim volume originally estimated in December 2023 is expected to eventuate, however, claims have taken long…