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Union welcomes brake on pension reforms

 

The union representing thousands of Manx government workers has welcomed plans to consult them on far-reaching pension reforms.

A government working group has recommended a major shake-up  of the unified staff pension scheme, to ensure its long-term viability. 

Changes include longer working, higher contributions and fewer benefits.

Prospect says its members are dismayed at proposals to alter existing pension terms with immediate effect.

Last week, Tynwald drew back from receiving the report, instead merely noting it and voting to begin a consultation on its recommendations. 

Figures used to assess the cost of the scheme will be scrutinised by a third party.

Prospect's negotiations officer Angela Moffatt says members are more angry than upset: 

 

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