Will Isle of Man mirror UK government plans?
UK Government plans to restore the so-called triple lock to retirement pensions will be raised during today's sitting of the House of Keys.
Douglas North MHK John Wannenburgh will ask Treasury Minister Alex Allinson what plans he has to review the Manx State Pension - both in terms of the amount paid and the inflationary link used to uprate the amount.
UK Chancellor Rishi Sunak's proposal could see pensions rise by over 10 per cent in line with inflation.
The restoration of the triple lock is in tune with a conservative pledge at the last UK general election - though the prospect of a double digit rise for pensioners isn't universally popular with his tory colleagues.
The triple lock was suspended for a year between 2022 and 2023 due to the pressures placed on public finances by the pandemic.
Assuming the Manx Government chooses to mirror the UK move a state pension rise, in the area of 10 per cent in line with inflation, would likely be welcomed by most pensioners but would come at a significant cost to the Manx Treasury.
The House of Keys will sit at 10am - you can listen live via Manx Radio's AM 1368 frequency or by clicking HERE.
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