Martin Potter, Chair of the IFoA’s Scottish Board, comments on the publication by the Scottish Government of a report into pension provision in an independent Scotland

"We are a year away from the referendum on Scottish independence and a public debate into the protection of pension promises, both public and private, recognises the importance of pensions and the problems that can ensue if the detail of pensions is not addressed. Today’s report provides the outline of the Scottish Government’s proposals for pensions should Scotland become independent and we welcome this contribution to the debate.  However, further data will be needed to enable an evidence based analysis of the policy proposals that the public deserves and more detail on funding is needed in order that it may make an informed vote.”

The IFoA will provide further comment on this paper in due-course

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Editorial notes:

About the Institute and Faculty of Actuaries

1. Actuaries provide commercial, financial and prudential advice on the management of a business’s assets and liabilities, especially where long term management and planning are critical to the success of any business venture. They also advise individuals, and advise on social and public interest issues
2. Members of the IFoA have a statutory role in the supervision of pension funds and life insurance companies. They also have a statutory role to provide actuarial opinions for managing agents at Lloyd’s.
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