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Rennie: Charities counting on stability and strength of UK for pensions

July 30, 2013 1:05 PM
Originally published by Scottish Liberal Democrats

Commenting on reports that charities operating across the UK would beWillie RennieWillie Rennie faced with repaying pension deficits worth millions of pounds if Scotland voted to leave the UK, Scottish Liberal Democrat leader Willie Rennie MSP said:

"Charities are counting on the stability and strength of the UK to ensure they can make sustainable repayments on their pension deficits. The lack of answers from the SNP over cross-border pension schemes in an independent Scotland could mean that charities have to dip into their resources to close holes in funding sooner rather than later.

"The United Kingdom partnership of nations offers powerful economies of scale to pension funds by sharing risk across a wide pool. This is further boosted by enabling pension schemes to operate across the UK without border restrictions. This will be a real concern to charities who already have enough on their plates sourcing funding and resources in challenging circumstances.

"This highlights the real consequences the SNP's plans to break Scotland away from the UK could have for pensions. Once again the SNP has offered up assertions but provided no answers on how this issue would be addressed."