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Tynwald to vote on paying into their own pensions

by isleofman.com 5th October 2012

Proposals to ensure members of Tywnald pay into their own pensions in future will be put to the vote when the court sits for the first time after the summer break next week.

A report amending the scheme will recommend voluntary contributions of just three per cent until April 2014.

From that time onwards the scheme would become compulsory, at a rate of five per cent.

In a survey conducted by Manx Radio earlier this year, the majority of Tynwald members said they would make voluntary contributions as soon as they could.

That's been possible since April, but this week the Clerk of Tywnald's office confirmed five have still not made arrangements for pension deductions from their salaries.

Chief Minister Allan Bell says that's a surprise in the current economic climate:


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Posted by isleofman.com
Friday 5th, October 2012 07:25pm.

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