MHK calls for new public sector pension scheme

Amendment to be tabled at Tynwald

An MHK who wants to close the current public sector pension scheme to new members says it's vital Tynwald makes the right decision for future generations.

Middle member Bill Shimmins will table an amendment at this month's sitting seeking support for a new scheme based on contributions rather than benefits.

The court is due to consider a report which recommends establishing a Defined Contribution Scheme as an alternative to the Defined Benefits Scheme, also at this month's sitting.

Mr Shimmins says this is a decision that affects all Manx residents, not just government workers.