BATCO,
Is your bank even domiciled north of the border or does it jus have Scottish somewhere in the title? Even if it isn’t, the reality is that Edinburgh’s financial sector is not quite what once it was.
The Bank of Scotland/Scot Widows is a tiny part of the Lloyd’s group and up for grabs. The head of Scottish Widows is (this morning) complaining about the impact of relentless regulatory change but it's unlikely he'd ever want to invite even more cost, uncertainty and volatility by heading back properly north of the border.
Pensions meltdown threatens savings revolution - Telegraph
Standard Life is listed on the London stock exchange and is seemingly forever making noises about heading south for good and closing down (effectively) its call centre operations, and pension companies such as Scottish Life are now only brands owned by companies domiciled south of the border. The Royal Bank of Scotland is these days largely a Scottish company in name only, and run from London.
I suppose (in respect of AFPS and because it is an unfunded scheme) an intention to pay is the best that can be given. Whether or not the intent is ever going to be possibly later reneged on for political, regulatory or financial reasons is another matter..