Pensioners can currently expect a 10% increase in payments
The Treasury Minister says he's 'fully committed' to increasing pensions in line with inflation, despite uncertainty in the UK.
Dr Alex Allinson has confirmed the Isle of Man will honour the triple lock, which ensures pension will increase each year in line with the UK inflation rate, earnings growth or 2.5 per cent - whichever is higher.
It means state pensions are set to jump by more than 10 per cent.
While there have been conflicting statements from the UK government over its commitment to the agreement Dr Allinson says that's not the case here: