Left Back Posted September 7, 2022 Share Posted September 7, 2022 11 minutes ago, Billy Jean King said: 32 minutes ago, Left Back said: The newly formed Scottish government will pay for it out of tax receipts raised, in exactly the same way UK pensions are paid for and the liability will be passed to them. There are roughly a million people of pension age in Scotland. The state pension is approximately £10k per year so that would be roughly £10bn that has to be funded every year. Do you really think the UK gov are going to fund that for the next few decades (given that over time it will decline). We're talking hundreds of billions of pounds. Do you really believe UK gov is going to subsidise an independent Scotland to the tune of hundreds of billions of pounds? What settlement in lieu of the pre-indy contributions? The pre-indy contributions have been spent on previous generations of pensioners. There is no pot of money to claim a share of. Pensions are paid for on a month to month basis by the tax receipts. If there was a pot of money I'd agree Scotland would be entitled to a share but that's not how state pensions work in the UK. You are misinterpreting or not understanding what I posted. Of course the SG will pay it from day 1 (would seem an obvious solution but who knows) but the settlement in lieu of contributions already made to the UKG will be go towards the funding of it. No one is saying the UKG will fully fund it or pay it for years. There will be a settlement figure the terms of which (one off or ongoing instalments from UKG) will be decided during the negotiations. That seems to be exactly what some people are saying. Again, contributions you, I and the rest of us have made have been used to fund the pensions of people that are currently drawing their pension. That money is gone. That's how the state pension in the UK works. 0 Quote Link to comment Share on other sites More sharing options...
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.