On Air The Morning Show Marc Tyley | 9:30am - Noon

Public sector pension reforms 'realistic'

Union backs proposed changes

A union leader says proposals for major reform of public sector pensions will cost his members - but are realistic and sensible.

Unite the Union, which represents almost 2,000 manual workers, supports a package of measures to reduce the pensions deficit - an annual gap of tens of millions of pounds between income and expenditure.

Those measures include increases in members' contributions and a reduced package of retirement benefits.

A report from the Public Sector Pensions Authority, backed by the majority of staff unions, will go to Tynwald this month.

Unite leader Eric Holmes says staff and employers have been in talks for months over how to make public sector pensions sustainable in the long term.

He says change is needed, even though it may not be welcome:

More from Isle of Man News