The Manx government has been praised for ‘coming clean’ with the public on the need for pensions reform.
In an opinion piece in the FT publication Financial Adviser, Kevin O’Donnell says the Isle of Man caused some ripples by revealing it is considering increasing the state pension age to a ‘Zimmer-frame shaking 74’.
He notes: ‘Government ministers have talked frankly about the island’s National Insurance scheme going bust without radical reform.
‘They deserve credit for levelling with the island’s population – a strategy too few mainland politicians are willing to countenance. It is the right thing to do and it may just avoid a disaster.’