Pension freedoms survey to be launched

New rules could be introduced

Manx workers are to be asked for their views on so-called pension freedoms in the coming months.

Since 2015, the scheme has allowed UK residents over the age of 55 to withdraw their pension as a lump sum, with no need to purchase an annunity.

Introducing it here was mooted by the previous Tynwald administration around the same time.

Treasury Minister Alf Cannan told a scrutiny committee this afternoon with full details to follow shortly.

His departmental colleague, Bill Shimmins MHK, had previously told the House of Keys that any pension freedoms programme here would be 'equal or better' to that in the UK.