Currency of public sector pension payments in an independent Scotland: FOI release

Information requested

https://www.whatdotheyknow.com/request/currency_of_social_security_and#incoming-2719283 

I refer to the above cases and your helpful clarification of the currency that benefits and state pensions would be paid in an independent Scotland.

I would like to follow that up for any discussion or analysis or plans if the following cases would also be converted to a new Scottish Currency:

1. unfunded public sector final salary schemes already in payment in Sterling
2. unfunded public sector final salary schemes per retirement (ie not in payment).
3. Funded public sector final salary schemes already in payment in Sterling
4. Funded public sector final salary schemes per retirement (ie not in payment).

Response

Exemptions under Section 29(1)(a) and 30(b)(ii) apply to some of the information requested. The reason why these exemptions apply is explained in Annex A of this letter.

In the interest of being helpful, we have provided the following information outwith FOISA. As we have previously made clear, on the introduction of the new currency, the Scottish pound would be the unit of  account for Government with contracts, wages, benefits (including the State Pension) and taxes all denoted in that currency. We would expect public service pensions to be payable in the same currency.

About FOI

The Scottish Government is committed to publishing all information released in response to Freedom of Information requests. View all FOI responses at http://www.gov.scot/foi-responses.

FOI 202400425251 - Information released - Annex A

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