Treasury outlines extensive pension and benefit reform plans

Wed, 08 Jul 2015

Treasury is presenting its case for state pension and benefit reform.

This month Tynwald will be asked to support five sets of recommendations - including changing state pensions to be around £180 a week.

The Island's strategic links to the UK, National Insurance, working age benefits and workplace pensions will also be addressed.

Consultants Ci65 estimate that the NI Fund will be gone by 2047 - seven years earlier than government projections.

Minister Eddie Teare says we need to act now: