Independence (Pensions)

Part of Oral Answers to Questions — Scotland – in the House of Commons at 11:34 am on 11 September 2013.

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Photo of Ian Murray Ian Murray Shadow Minister (Business, Innovation and Skills) 11:34, 11 September 2013

The Institute of Chartered Accountants of Scotland highlighted that, on independence, cross-border defined benefit pension schemes would have to be fully funded, which would leave a deficit of some £230 billion. That was dismissed by the First Minister, who said that he would merely call for a derogation from the EU. Given that the Czech Republic has not only been refused that, but has been fined, what does the Minister think will happen to Scottish pension arrangements now and in the future?