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Civil Service Pensions

by isleofman.com 23rd March 2006
Bold decisions may be needed to ensure the Isle of Man Civil Service Pension scheme remains fair to its members - and the taxpayer.

That warning from Middle MHK Martyn Quayle, who fears the existing Final Salary scheme may be "unsustainable" for the Civil Servants of the future.

Mr Quayle says the government's pension liabilities have grown sharply in recent years, partly due to additional posts created at Noble's Hospital.

Liabilites at present amount to almost 24 per cent of the pensionable pay of each civil servant.

Mr Quayle says different arrangements may be needed for future posts - even if that means they are not as attractive as before:
Posted by isleofman.com
Thursday 23rd, March 2006 09:30pm.

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