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Pensions proposal expected soon

Work has started on reviewing the pensions of Tynwald members.

Plans for a new unified public sector scheme, to replace the 15 exisiting versions, passed their final political hurdle earlier this year, but the reform proposals did not include pensions of politicians.

However, Tynwald's Standing Committee on Emoluments has met and will come forward soon with a detailed proposal.

Many believe members should make a contribution towards their own pensions.

It's more than two years since the Manx government warned income tax increases or public spending cuts would be needed if nothing was done to tackle the cost of public service pensions.

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