Alex Allinson says if government does nothing the National Insurance Fund will run out by 2047
The treasury minister is assuring pensioners on the Isle of Man that the proposal of a Manx Pension Guarantee does not mean he is getting rid of the triple lock - rather creating certainty for the future.
The measure, if approved by Tynwald, would mean it would rise annually from April 2025 by either the preceding September’s figure for Manx CPI inflation or 2%, whichever is higher.
You can find out more HERE.
Speaking on Manx Radio Breakfast today (29 January) Alex Allinson says if government does nothing the National Insurance Fund will run out by 2047.
He added it means taking control of the way pensions are increased for those who retired from 2019 and it enables government to track inflation and reflect it in terms of the pension:
You can listen to the full interview here:
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