Scottish independence means pension sponsors and trustees would have to change scheme designs and
operations, BlackRock warns in a white paper.
BlackRock says Scottish independence would raise regulatory costs and uncertainty for companies.
“An independent Scotland would bring major uncertainties, costs and risks – mostly for Scotland, but also for the remaining UK,” the asset manager says.
“There is a lot to settle: a currency union or a Scottish pound, Scotland’s opening balance sheet, division of the hydrocarbon bounty, financial regulation, EU membership, tax matters, timetables, and much more.”
Last month, Standard Life, a Scottish insurance company with a large asset management business, said it might move parts of its operations to England, should Scotland vote to become an independent country in September.
©2014 funds europe
