Government looks to UK as it plans future of state pension

Mon, 28 Apr 2014

Government is looking to the UK benefit model as it plans to make the system more sustainable.

With people living for much longer the National Insurance fund will have collapsed by 2050 if current forecasts are to be believed.

A number of alternatives are currently being explored.

Treasury Minister Eddie Teare outlined the benefits of the UK’s system for the Isle of Man: