Date by which fund could run dry now 2045/46
The date by which the Manx National Insurance Fund is expected to run out has drawn closer.
That's the verdict given in evidence to the Public Accounts Committee by The Treasury's Director of National Insurance, David Ireland, who appeared alongside Treasury Minister, Chris Thomas and Chief Financial Officer, Caldric Randell.
A recent report forecast that there will no longer be a surplus available to pay into the fund, with money needing to be withdrawn to make up a shortfall in NI contributions.
It's been predicted the fund could be exhausted by 2047.
But Mr Ireland says a closer look at the pension figures reveals a different story:
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