On-Air Now
Facebook

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: 


Media

  • Ross Stephens

 

Subscribe to get Energy FM News direct to your mobile device

You can get Energy FM News delivered direct to your mobile device using one of the following methods.

  • In the Apple News App on iOS search for Energy FM IOM and then just add it to your favourites
  • In the Google News & Weather App just search for Energy FM and then add us as a customised section
  • If you use an RSS Reader then just add our feed to your app, click here for our news RSS feed