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Manx State Pension Reforms

Manx State Pension Reforms

The proposed reforms will not affect anyone who is already in receipt of a state retirement pension, nor anyone who will reach state pension age before 6 April 2019

In July 2015 Tynwald approved a set of recommendations which resulted in the Isle of Man and the UK having different state pension provisions in respect of people reaching state pension age on or after 6 April 2016. Existing pensioners up to that date are not affected by this, and will continue to receive their state pensions under the provisions which applied before 6 April 2016.

In March 2016 Tynwald approved a new Social Security agreement with the UK which means that anyone who has worked in both the Isle of Man and the UK will be entitled to separate state pensions, based on the National Insurance contributions which have been attributed to each country.

From 6 April 2016, the UK introduced a new 'single-tier' State Pension. The Isle of Man has kept the state pension provisions which were in place before 6 April 2016. However, the Isle of Man is committed to introducing a new Manx Pension, which it is hoped will be introduced from April 2019.

At the July 2016 sitting Tynwald approved the Treasury’s proposals which will form the foundation of the new Manx State Pension. Those proposals had been formulated following workshops held with Tynwald Members and which resulted in Treasury commissioning the UK Government Actuary’s Department to do additional option testing.

These documents are available to download from this page.

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