Changes due in April
An update on what is widely seen as the biggest current domestic challenge for the Manx government will be outlined in early 2018.
Public sector pensions funding was addressed by the Policy and Reform Minister in a statement in Tynwald this lunchtime.
Meeting the pensions bill is critical with reform options for the government unified scheme last year considered by a joint employer and employee working group.
From next April, there will be a 2.5 per cent increase in employee pensions contributions and a six per cent reduction in future service benefits for members.
Chris Thomas today (21 Nov) told Tynwald the Public Sector Pensions Authority and Treasury is continuing its detailed assessment and will bring a final report to Tynwald next year.
He added reforms to the police pension scheme were imminent with discussions ongoing about changes to scheme for teachers and members of the judiciary.
Ongoing incident at Ronaldsway airport
Hopes for better working relationship between government and hospitality sector
'A lot of work to do' on low income housing
Public servants killed in the line of duty eligible for new award
Multi-million pound Villiers development recommended for approval
IoM 'must use voice on international stage'
