Pensions in Scotland After independence

Ann_Dale

Will people in Scotland be able to get their pensions if the country becomes independent?

JoeCrystal

No one got any ideas, frankly. Which pensions are you referring to anyway?

dunstonh

Ann_Dale said:

Will people in Scotland be able to get their pensions if the country becomes independent?

What pensions?

Let's face it, the SNP don't have a clue about what would happen with independence.  So, don't expect anyone here to either.

Marcon

Ann_Dale said:

Will people in Scotland be able to get their pensions if the country becomes independent?

Can't see why not, but ask Nicola Sturgeon. 

indiasign

Yes, because Scottish Widows will be nationalised, with any assets due to English pension funds seized and redistributed to Scots 😉

Dazed_and_C0nfused

Ann_Dale said:

Will people in Scotland be able to get their pensions if the country becomes independent?

Everything except the State Pension, you would have to start contributing to the newly created Scottish State Pension.

theoretica

I am sure the campaign to vote yes to independence will say that pensions will be unaffected, or improved.  I am also cynical about any electioneering promises.

molerat

Well, according to Blackford the state pensions for existing pensioners is going to be paid by the UK government because they have paid their contributions to the UK government so the money will come out of that pot.  Just a taster of the grasp the SNP have on economics and reality !

Preacher64

The 2014 financial white paper produced by John Swinney conceded that there would be insufficient income from tax / NI with Scotland’s working persons demographic, civil service and welfare obligations to maintain the state pension at the rate at that time, and match UK increases going forward. The proposed solution was to support it through taxes raised from oil and gas revenues.

With O&G now fallen out of favour, there is no conceivable way the state pension could be maintained in its current form without massive cuts in other areas of public spending, which could possibly result in means testing. Like the higher tax rates and lower thresholds, this would be proclaimed to be a “progressive policy”.

Of course Mr Swinney also noted that the cost of living was lower in Scotland so pensions could reasonably be reduced without impacting on living standards.

Given that the whole independence movement follows one person’s fixation and desire for sole control over every aspect, it is doomed to failure and would lead to a severe drop in wealth and standard of living for all who remain in Scotland.

EDIT
some information here
https://www.scottishdailyexpress.co.uk/news/politics/snp-pension-deception-laid-bare-26130244

MK62

indiasign said:

Yes, because Scottish Widows will be nationalised, with any assets due to English pension funds seized and redistributed to Scots 😉

Unlikely.......more probable is a mass exodus of Scottish insurers to south of the border, where the majority of their customers are.......if not, well I wouldn't leave any of my pensions in a foreign country, and certainy not one run by the SNP......I suspect millions of other "rest of UK" pension holders might feel the same tbh.

indiasign

MK62 said:

indiasign said:

Yes, because Scottish Widows will be nationalised, with any assets due to English pension funds seized and redistributed to Scots 😉

Unlikely.......more probable is a mass exodus of Scottish insurers to south of the border, where the majority of their customers are.......if not, well I wouldn't leave any of my pensions in a foreign country, and certainy not one run by the SNP......I suspect millions of other "rest of UK" pension holders might feel the same tbh.

I wasn’t entirely (or even remotely) serious 😂