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Isle of Man Government
Reiltys Ellan Vannin
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Chief Secretary's Office

Public Sector Pension Reform

Revised proposals published November 30th, 2009

Signpost - Coastal Footpath on the IslandThe Council of Ministers has issued a draft report for comment which contains revised proposals for a unified scheme.

The draft report also contains three annexes as follows:-

1. A Consultation Response Report by Hymans Robertson on the consultation carried out earlier this year detailing the feedback received and the concerns expressed.

2. A further report on The Way Forward by Hymans Robertson which details revised proposals to address the concerns.

3. An Independent Report by the UK Government Actuary’s Department which was commissioned to check that the original Hymans Robertson proposals were fair in terms of the transfer values.

To view the Unified Pension Scheme compilation of reports, please click on this link or access the pdf file under the downloadable documents heading at the foot of this page.

Further information to follow shortly

All Scheme Members affected by this review will be sent a Pensions Update information sheet by post.

Scheme specific factsheets are now available and illustrate what the proposal means to members of all the different schemes.

Questions and comments

Once you have read the report, if you have any questions, please visit the Frequently Asked Questions page.

If this does not answer your question you can send it to Hymans Robertson at iompensionreview@hymans.co.uk

Please note: Hymans Robertson will not be able to reply directly but the Frequently Asked Questions list will be updated regularly to supply the answers. The list was last updated on January 29, 2010.

If you have any comments on the proposal please send them to pensions.review@cso.gov.im before midnight on 1st February 2010 (new extended date).

What happens next?

Most union representatives have been briefed on the proposal and further meetings will take place over the coming weeks.

The Council of Ministers will consider the comments received and take the final report to Tynwald for its consideration in the Spring.

Downloadable Documents
Acrobat PDF FileDraft Council of Ministers Report (160 kb)
Format:Acrobat PDF File
Draft Council of Ministers Report
Acrobat PDF FileConsultation Response (328 kb)
Format:Acrobat PDF File
Consultation Response
Acrobat PDF FileThe Way Forward (547 kb)
Format:Acrobat PDF File
The Way Forward
Acrobat PDF FileGovernment Actuary's Department Report (95 kb)
Format:Acrobat PDF File
Government Actuary's Department Report
Acrobat PDF FilePensions Update Leaflet (317 kb)
Format:Acrobat PDF File
Pensions Update Leaflet
Acrobat PDF FileUnified Pension Scheme compilation of reports (1044 kb)
Format:Acrobat PDF File
Unified Pension Scheme compilation of reports

You will need Adobe Acrobat to download documents that are PDFs, this is available free by following this link:Download Adobe Acrobat