Social Security reform consultation
The Treasury published a consultation entitled "Proposed Changes to the Manx Social Security and National Insurance Systems". As part of the continuing review of the Island's National Insurance and welfare systems, following on from the independent report published in 2014.
The consultation covered 4 main areas:
The State Pension
Work Based Pensions
Working Age Benefits
The purpose of the consultation was to invite comments on the future of the Island's social security system. The consultation ran from the 23 March 2015 to 15 May 2015.
Following on from the consultation Treasury presented to Tynwald a set of proposals in July 2015. These were approved and have resulted in a new reciprocal agreement with the UK concerning state pensions.
Should you have any questions about National Insurance or Work Based Pensions then please contact the Income Tax Division on 01624 685400. For further information on State Pension and Working Age Benefits you should contact the Social Security Division on 01624 685656.