In this article, members of the Scottish Currency Group (SCG) continue their series explaining how a separate Scottish currency can be introduced…
The article reflects SCG views on the policies which the group believes should be adopted in the future.IT is highly likely that as part of independence negotiations with the UK Government, the Scottish Government will agree to take over the UK State Pension for anyone resident in Scotland on Independence Day. If that happens then the new Scottish State Pension will be paid in Scottish Pounds only.
This would also apply to British Armed Forces pensions, unless the person involved is serving at the time of independence and transfers into the Scottish Armed Forces. Some large pension schemes may choose to divide into a rUK and Scottish scheme, and thus allow Scottish pensioners to be paid in Scottish Pounds rather than GB£.
Until such time as there is a Stock Exchange in Scotland then a stocks and shares ISA would remain in GB£ as the shares would be held in the London market.AT independence it is likely that all financial investments will be quoted on and held in markets in London, New York or elsewhere.There are some plans to open a Scottish Stock Exchange which would in time allow for some investments to be quoted in S£ and held in Scotland.
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