Proposed changes to the Manx State Pension will now be considered separately from next week’s Budget, after Treasury Minister Dr Alex Allinson confirmed he will support a motion calling for a dedicated debate on the issue.

Members voted unanimously in favour of a motion tabled by Onchan MHK Julie Edge which called for a separate motion on the pension proposals.

Speaking in the House of Keys this afternoon, Dr Allinson welcomed the motion tabled by Onchan MHK Julie Edge, which urges Treasury to ensure that any future uprating of the Manx State Pension is addressed through a standalone motion rather than being included as part of the Budget process.

Just last week Dr. Alex Allinson told Media Isle of Man that the pension proposals were an ‘intrinsic’ part of the Budget.

Ms Edge had earlier criticised the handling of pension reform, stating that the Treasury Minister had previously promised a national debate on the matter, but this had not materialised.

The proposed changes would see the Isle of Man drop the triple lock pension guarantee for those who retired after 2019, sparking concerns over the long-term financial security of future pensioners.

Under a proposed Manx pension guarantee, their state pension will instead rise annually by either CPI inflation or 2%, whichever is higher.

Most pensioners will be unaffected as they retired before the introduction of the Manx State Pension in 2019.

Addressing the House, Dr Allinson sought to clarify the Treasury’s position, insisting that the plans would ‘not scrap the triple-lock’ but rather ‘deal with those people who have retired since 2019 who are now on the Manx state pension and who are already claiming a significantly increased pension than the one that preceded it.’

He added: ‘It is the spirit of intergenerational fairness which the future of the scheme must consider.

‘It is that commitment to future sustainability, protection for all pensioners now and in the future, and a clear intent to continue to review the scheme every five years and act where necessary, that can give the people who put us here the confidence that their futures and the futures of their children and grandchildren will be secured.’

Dr Allinson confirmed that Treasury would amend the Tynwald order paper to allow for a full and separate debate on the Manx pension guarantee, as requested in Ms Edge’s motion.

The decision comes amid growing criticism from members over how the proposed changes have been communicated to the public, with some arguing that pensioners and future retirees deserve greater clarity on how their entitlements may be affected.

The debate continued this afternoon, with a number of members criticising the way the change has been planned and communicated to the public.