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Major reform for Island's state pension and benefits

Isle of Man's state pension and benefits have been approved in Tynwald

Radical measures to reform the Island's state pension and benefits have been approved in Tynwald.

The proposals include raising the retirement age, phasing out the Manx pension supplement and introducing a flat-rate £180 a week state pension.

Working age benefits will also be replaced with a single Manx benefit under the plans.

The proposals were drawn up following a report by consultants Ci65 which said the island’s ‘out of date and broken’ welfare system had not kept pace with the ageing population.

Voting was close on some of the measures being proposed but Treasury Minister Eddie Teare says he believes the outcome is a good one for pensioners on the Isle of Man.

There'll now be a further consultation from which more detailed proposals will be brought to Tynwald in around 12 months time.

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