Implications of 'yes' vote on Scottish Widows annuity?

mania112

jem16 wrote: »

So Yorkshire is thinking of leaving the UK too? I hadn't realised that.

Nooo... where would we go for our tea (don't say China)!

Annie1960 wrote: »

But they might start paying me in a different currency (or would this not happen?) They were not able to answer this question themselves when my broker asked them.

I might try giving them a ring directly myself next week to see if I can get anything further from them.

I can't imagine it being plausible for them to start paying you in Scottish Dollars. They took you on knowing you were English, knowing you were wanting to receive UK Sterling, knowing you were quoted in that currency too.

If the worst did happen, I'm sure there would be legislation in place to secure a pot of UK Sterling for people in your situation.

EDIT: And IF SW really are the best provider, I wouldn't suggest you go to another provider for this. It's unlikely to happen (Independence) and even more unlikely it will effect your Annuity.

mania112

I had a similar question to this about Scottish Life... owned by Royal LONDON.

Thrugelmir

mania112 wrote: »

I can't imagine it being plausible for them to start paying you in Scottish Dollars. They took you on knowing you were English, knowing you were wanting to receive UK Sterling, knowing you were quoted in that currency too.

The assets and liabilities relating to UK investors would be transferred back to the UK. As irrespective of on whose shoulders it fell. Currency exchange movements would be untenable and beyond regulatory control.

CLAPTON

mania112 wrote: »

I had a similar question to this about Scottish Life... owned by Royal LONDON.

Scottish life took over Royal London but for some reason it has
recently rebranded itself

I wonder why

wallpaperman

CLAPTON wrote: »

Scottish life took over Royal London but for some reason it has
recently rebranded itself

I wonder why

No, you have it the wrong way around. Royal London took over Scottish Life in 2001 and SL remains essentially as a brand name only, and that is to disappear over the next year or two.

Royal London management have said that if it is a Yes vote, then there would need to be some pretty seismic changes to the fiscal system for them to close up in Scotland. Good to see them taking a relaxed stance, unlike most of the horribly biased media up here.

CLAPTON

wallpaperman wrote: »

No, you have it the wrong way around. Royal London took over Scottish Life in 2001 and SL remains essentially as a brand name only, and that is to disappear over the next year or two.

Royal London management have said that if it is a Yes vote, then there would need to be some pretty seismic changes to the fiscal system for them to close up in Scotland. Good to see them taking a relaxed stance, unlike most of the horribly biased media up here.

thanks for the correction

so it already is a London based group and even the name 'scottish life' is scheduled to disappear.

So if there was a yes vote that could simply establish a Scotland based subsidiary for local business.

margaretclare

I have investments with Kames who are based in Edinburgh. They've done well for me and I wouldn't like to change.

mania112

Yeah, Kames are a part of Scottish Equitable (AEGON).

Anyone know why there are so many 'Scottish' firms?

jem16

mania112 wrote: »

Anyone know why there are so many 'Scottish' firms?

Because we're brilliant in all matters financial up here!

bigadaj

jem16 wrote: »

Because we're brilliant in all matters financial up here!

Isn't that 'were'?