Minister to outline welfare state reforms

Sunday, 5 July 2015 13:30

Eddie Teare will outline latest government thinking

Far-reaching proposals to overhaul the Isle of Man's state pension and benefits are due to be unveiled next week.

The treasury minister will outline latest government thinking on changes it says are vital for the survival of the National Insurance fund.

Last week saw the publication of a major public consultation on the future of the Island's welfare system.

It showed overwhelming support for a proposed minimum 10 years NI contribution to qualify for any state pension.

And there was strong backing for a potential raising of the state pension age.

Last year a consultants' report concluded the Island's current welfare policies were unsustainable, the system 'out-of-date and broken'.

Bill Henderson was then Treasury member social security - and said the stage was set for change.

Eddie Teare will brief Manx media on his proposals on Tuesday afternoon (7 July).

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