Statistics on final salary pension schemes

A larger proportion of public sector workers in the Isle of Man are on final salary pension schemes than in the United Kingdom.

The information emerged in a written reply to a Tynwald question, tabled by Onchan MHK Peter Karran.

Mr Karran referred to a recent article in the Sunday Times, which looked at the salaries of public and private sector workers in the UK.

Mr Karran wanted to know how those, as well as the number of people on pension schemes, compared with figures for the Isle of Man.

In his reply, Treasury Minister Allan Bell says 95.8 per cent of public sector workers in the Island have final salary pension schemes, which compares with a figure of 90 per cent in the UK.

He also says the median salary for workers in the Isle of Man's public sector is nearly £3,000 higher than that in the United Kingdom.