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Treasury proposes inclusive pensions safety net

Wed, 28 Oct 2015

Introducing a new "safety net" will guarantee that no-one is out of pocket by the changeover to a new pension system.

That's the optimistic message from the Treasury - it wants to amend the Manx Pension Supplement and introduce a top-up provision. 

The additional funds could be claimed by anyone retiring on or after April 6th next year who has paid National Insurance both here and in the UK.

State pension systems for both jurisdictions are diverging - but a reciprocal agreement is in place to ensure that everyone receives their full entitlement.

Social Security director Ross Stephens explains who will be affected: 

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• Ross Stephens