Public sector pensions to increase

Mon, 07 Mar 2011

Pensions paid to retired government workers are to rise by 3.1%.

Treasury Minister Anne Craine will bring an order to Tynwald this month.

The annual increase takes rises in the cost of living into account and is in line with the UK.

It used to be measured against the Retail Price Index but this will be changed to the Consumer Price Index from 1st April.

The CPI is considered to be more accurate for measuring the effects inflation has on households.