Standard Life will move to England if Scotland secedes

Financial group Standard Life says it’s ready to move parts of its business to England if Scotland votes for independence next week.

The Edinburgh-based company employs 5,000 people in Scotland and has been based there for 189 years.

Read: Manulife to buy Standard Life’s Canadian operations

In a statement to shareholders, the company said “in view of the uncertainty around Scotland’s constitutional future, we have put in place precautionary measures which would help enable us to provide customers with continuity.”

Read: Standard Life net income up 229%

Those measures include transferring pensions, investments and other long-term savings to England to ensure they remain part of Britain’s currency and tax regime.

Scotland and England have been politically linked for 307 years. The country’s independence vote is scheduled for Sept. 18.

Last week, Standard Life announced its Canadian operations are being sold to Manulife Financial.

Read: Standard Life’s Quebec VRSP approved

Staff, with files from The Associated Press

The Associated Press is an American not-for-profit news agency headquartered in New York City.