Tynwald will be asked to approve pension changes

Tynwald will be asked to approve changes to pension schemes for public sector workers when it sits in December.

New legislation would increase the rate they accrue at, meaning future pensions build up more quickly. 

Meanwhile teachers would see a one percent reduction in contributions, and be able to exchange part of their pension for a lump sum in retirement. 

Public Sector Pensions Authority chair Jerry Carter says the aim's to make the system more sustainable and affordable for both employees and taxpayers.