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Liberal Vannin wants higher pension contributions

Mon, 19 Mar 2012

The Liberal Vannin party says Tynwald members have a moral obligation to contribute to their pensions.

Tynwald will vote this month on whether members should start paying into their pension funds.

If approved, politicians would start paying a 3% contribution from April, rising to 5% over 2 years.

The party, which has 3 sitting MHKs, believes 10% is a more realistic contribution.

Party leader Peter Karran will move an amendment during this month's sitting of Tynwald, asking for the rate to be increased to 5% immediately, rising to 10% from April this year.

Tynwald will vote on the proposals later this week.



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