Isle of Man News - POSTED Thu 08-05-2014

Means testing of state pension on agenda

by Joanne Clague

Means testing of state pension on agenda - picture

Onchan MHK Peter Karran will raise the issue of state pension benefits in Tynwald this month.

He is calling on the Manx parliament to agree that state pensions should not be means tested - but the benefits attached to the state pension, such as the Christmas bonus, funeral benefits and supplement, should be removed from wealthier individuals.

Mr Karran wants the Treasury to consider phasing out additional benefits for those pensioners whose net income is above the national average wage or pensioners who have capital above a certain limit, and to report back to the October sitting of Tynwald.

Meanwhile, public sector pensions are also on the agenda. Castletown MHK Richard Ronan wants them to be put on to an 'affordable and sustainable' basis before any changes are made to the NI-based state pension, while Michael MHK Alf Cannan says full consideration should be given to the report laid before Tynwald by the Public Sector Pensions Authority and 'the requirement for the economic burden to be distributed equally amongst all citizens', recommending 'that the Council of Ministers should now draw up appropriate legislation to enable certain actions to be enforced that will assist in providing a stable financial platform for the future'.

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