New Pension Reform Package To Have More Positives than Negatives for Health Sector

Chief Minister Speaks to 3FM About Public Service Pension Reform

The Council of Ministers have now formulated a pension reform package that they will be taking to April’s sitting of Tynwald for approval.

The new pension will see those working in the public sector affected, in an effort to simplify the existing system whilst also making savings all of the existing 15 schemes are to be unified.

The new change will see roughly one third of those having to pay more with a phased 1% increase per year.

It follows on from a 6 month consultation period that  saw over 800 people respond, there was initial outcry from the Health Sector after it was feared the proposed unified scheme would be to their detriment. 

Chief Minister Tony Brown has said the proposed reform will have more positives than negatives for those working in health.

(AUDIO ABOVE)