By coincidence, in the same week as we have been promoting our new leaflet on Pensions, a motion was passed at the SNP Conference calling for an increase of State Pension in an Independent Scotland to the same level as the OECD average and supporting the commissioning of a Scottish State Pension Plan. The data referred to in the motion echoes much of the information on our leaflet.
You can download a PDF file with all our data on State Pensions and how ours compares to other developed countries: Pension Data
Or for a quick idea of how another small country much the same size as Scotland is doing with their State Pension, this will give you the general idea:
Now I bet most of us would be pleased if our State Pension was the same as Ireland’s. But Ireland’s State pension itself is still below the average for EU countries. Here’s how UK, Ireland compares with average State Pensions:
The UK pension is 29% of average pre-retirement earnings. We’ve used the data for men only as the current changes to women’s retirement age makes their data more complex. Ireland’s pensions is 42% of pre-retirement earnings. But the average EU Pensions is 71%. In other words EU average pension is almost two and a half times ours, in terms of pre-retirement earnings. If you use £145 as UK Pension, ie somewhere between £125 and £163, then we’d be receiving £355 a week.
Is this going to be possible in a newly independent Scotland? Well, certainly not immediately, but at least we’d have a Parliament at Holyrood who’d likely be trying to get us up to that level. SNP would be trying to do that and it’s not a stretch to surmise that the Scottish Greens, Labour and maybe LibDems would also support it. And that would be much better than what we have at the moment : State Pensions are not devolved to Holyrood but are instead in the hands of Westminster and whoever the English electorate votes into power. A Scottish State Pension Plan is the first step. Oh, wait, the first step is an independent Scotland.