MHK's pension reform plans not practical says Minister

Wednesday, June 24th, 2015 12:00am

Government can't trust the public with their pensions any more than it already does.

That's the message from the Treasury Minister following pleas from Michael MHK Alf Cannan to liberalise the market.

He will present a motion to Tynwald - including a suggestion that people should be able to draw down the full amount in one lump sum.

However Eddie Teare says evidence shows it's just not practical:

More from Isle of Man News

Crash at Blackboards

Early this morning, Emergency Services responded to reports of a crash near the Blackboards.
Damaged mobile phone at school sparks fire callout

A mobile phone sparked a fire alert at an Island secondary school yesterday.
Island officers get road stinger training

Police say they're armed with a new weapon to stop criminals who flee in their vehicles.
Port St Mary residents fear digging risks ‘collapse’ of main road

Residents in Port St Mary fear digging below the former Bay View Hotel could cause the collapse of a main road.
MHK to probe vehicle and erosion damage to countryside

Damage caused by off-road vehicles and erosion in the Manx countryside will be discussed in the House of Keys next week.
Onchan selling off mini F1 cars

If you've ever fancied owning your own Formula 1 car, Onchan Commissioners may have just the thing.
Post Office praising Tynwald for modernisation support

Isle of Man Post Office is thanking the government over its support for plans to re-shape its operations.
Lego show coming to Douglas

Crowds of people are expected to see super models on display at the Island's family library next month.