Retirement and Pensions
Retirement Pension
State Retirement Pension is paid to you if you have reached state pension age and certain National Insurance contributions (NICs) conditions are met.
Pension Supplement
The Pension Supplement provides an increase to the basic Retirement Pension, long term bereavement benefits and long term Incapacity Benefit (referred to as qualifying benefits). Where the qualifying benefit is Retirement Pension or a bereavement benefit the Isle of Man rates of benefits are 46.355% higher than in the UK. The Pension Supplement is payable at a fixed rate of £40.68 where the qualifying benefit is long term incapacity benefit.
Retirement Pension Premium
This scheme was introduced in the IOM from 1 October 1990 to assist people who were generally too old to have participated in the State Earnings Related Pension Scheme (SERPS) (people aged 75 or over), by providing a payment to stand in the place of the Additional Pension from SERPS.
Non contributory retirement pension
Non-contributory retirement pension (or 'Category D' State retirement pension as it is formally known) can be paid to you if:
- you reached aged 80 before 6 April 2016
- you have not paid enough National Insurance contributions (NICs) in the IOM or the UK to receive a State retirement pension based on NICs, or you receive a State retirement pension based on your NICs paid in the IOM or the UK at a lower rate than the non-contributory State retirement pension
TV Licence payments
You normally need a TV Licence if you are watching or recording any TV programme. However, people aged 75 or over living in the Island are eligible for free TV licences from the BBC from 1 April 2018.
Certain groups of people can get help with meeting the cost of their TV licence. Who can get help, how much they can get and how to get it is explained.
Pensions news
Information about occupational and personal pension schemes which are subject to Treasury legislation.
Isle of Man State Pension Statement
To get a statement of how much IOM State Pension you could get please ask us to send you an application form by emailing pensionstatement@gov.im.
Your State Pension statement is provided for your information only and is not financial advice.
