Pension freedoms to come before Tynwald

Working group already set up

Proposals to introduce pension freedoms to Manx residents, equal or better than those available in the UK, will be brought to Tynwald in the New Year.

That's according to Treasury Minister Eddie Teare.

It follows a move in July from Michael MHK Alfred Cannan whose call for parliament to support the concept of pension freedom won Tynwald backing.

Mr Teare told colleagues he had asked the Department of Economic Development to lead the project and a working group had already met to consider ideas - attended by private sector and government representatives.

Their findings and proposals will go before Tynwald in January.