Pensions
Answer:
Timetable for introduction of Scottish Pound post independence. What will happen to wages and bank account, and pension.
Full answer here: A Scottish Currency in an Independent Scotland
Answer:
Scotland already has systems for collecting tax and paying welfare benefits. These will need to be expanded to deal with the data transferred from UK administrations. Pensions will continue to be paid from government revenue. The details will be worked out in the independence negotiations.
Full answer here: Taxation and welfare payment
Answer:
A central bank needs to be established. Personal and business accounts need to be set up. Loans can continue to be paid in Sterling or the new currency. Pensions can also be paid in the same way.
Full answer here: How to start Scotland's own currency
Answer:
An independent Scotland needs its own currency. First requirement is a Central Bank. Then there the details of bank accounts, customer accounts (business and personal), repayment of loans, payment of pensions, and the printing and coining of money. All these are technical details which financial institutions are well versed in.
Full answer here: Independent currency requirements
Answer:
Currently large public and private organisations provide pension schemes. This will not change.
Full answer here: Payment of pensions
Pensions in an Independent Scotland
Author / Creator: Scottish Currency Group
Media type: Report
Date published: 2026
When Scotland becomes independent, it will inherit the UK’s pension system. We can do better.
Introduction to Pensions in an Independent Scotland
Author / Creator: Scottish Currency Group
Media type: Pamphlet
Date published: 2026
The UK pension system fails to provide adequate income security for many pensioners whilst costing between 26% and 40% of pay. In an independent Scotland we can design a far better pension system at much lower cost. This booklet sets out how we can do this.
A People's Wealth Fund; Investing the National Pension Fund
Author / Creator: Jim Osborne
Media type: Report
Date published: 2026
The proposals to establish a National Pension Fund (NPF) in Scotland are conditional upon Scotland issuing its own currency.
Building on shaky foundations? Multi-level policy realities for Scottish social security policies
Author / Creator: Hayley Bennett,
Media type: Blog
Date published: 2025
[Social welfare] is a fickle and unsettled policy domain.
Investigation into the requirement for and optimum level of a Wellbeing Pension
Author / Creator: Niamh McGhee
Media type: Report
Date published: 2023
Pensioners in the UK suffer from a high degree of inequality. How could a Wellbeing pension change that?
Optimum level of a Wellbeing Pension
Author / Creator: Niamh McGhee
Media type: Report
Date published: 2023
Current (2023) pensions are over £1 000 per year less than a Wellbeing pension.
What an independent Scotland can learn from Denmark
Author / Creator: Believe in Scotland
Media type: Article
Date published: 2023
Lessons for an Independent Scotland: Denmark
The reality of pensions in a Scotland that has voted for independence
Author / Creator: MammothWhale
Media type: Blog
Date published: 2022
A look at the actual opportunities and challenges an independent Scotland would have with pensions.
How an Independent Scotland could reset the basic State Pension
Author / Creator: Business for Scotland
Media type: Online article
Date published:
How an Independent Scotland could reset the basic state pension. The basic UK state pension is the lowest in the developed world at 21.6% of final earnings. UK citizens are expected to make private provision for their retirement. This leaves the poorest, in particular women, locked into pensioner poverty. A newly Independent Scotland may want to borrow ideas from other countries with better pension arrangements.
Twenty million adults could be in line for ‘state pension age reprieve’ as life expectancy improvements ‘collapse’ even before the Pandemic
Author / Creator: Lane Clark and Peacock
Media type: Report
Date published:
The government’s current plans to raise state pension age to 67 by 2028 and age 68 by 2039 have been ‘blown out of the water’ because expected improvements in life expectancy have largely failed to materialise.
Lessons for Scotland in how newly independent countries boosted pensions
Author / Creator: Believe in Scotland
Media type: Article
Date published: 2021
UK state pensions are the least generous in North West Europe in comparison to the average wage.
How small independent countries create a better, more equal society
Author / Creator: Believe in Scotland
Media type: Article
Date published:
It has become clear that small, independent countries largely outperform the UK and offer greater security to their citizens.
Better Pensions
Author / Creator: Believe in Scotland
Media type: News Media
Date published:
The UK has the worst state pension in the developed world (defined as full OECD membership). In 2018, it was only worth 28.4% of average income at retirement (based on the net replacement rate). The EU average percentage is more than double that of the UK pension.
Retirement Living Standards Updated to Reflect Expectations Changed by Lockdown
Author / Creator: Pensions and Lifetime Savings Associaton
Media type: Press release
Date published:
State pensions are the lowest in OECD countries.
Revealed: UK’s paltry pension can’t provide even the most basic standard of living
Author / Creator: Believe in Scotland
Media type: News Media
Date published:
The UK state pension is not big enough to support the bare minimum standard of living for a single person, according to a new report. And it warns that a quarter of employees are not on track to be able to afford it.