Changes to pensions of government workers being considered

Friday, 8 August 2025 16:55

Public service workers are being consulted on proposed changes to their pension schemes. 

The Public Sector Pensions Authority says reforms since 2012 have reduced costs and made schemes more sustainable.

New proposals include faster pension accrual, a one percent cut in contributions for teachers, and improved lump sum options. 

If approved by Tynwald, increases to pensions will be applied and backdated to 1 April 2024.