Onchan MHK Julie Edge has asked Treasury Minister to set out the legislative and legal framework underpinning how the Isle of Man applies the pension triple lock.
She also wants to know what legal advice the Department has relied upon in each year since 2021.
In a written question for answer by March 2, the Onchan MHK asks the Minister Chris Thoma to confirm:
- What legislative framework governs the application of the triple lock “via policy decision”, and
- What legal advice Treasury has received “when calculating and applying the triple lock in each year since 2021″.
The triple lock, which uprates the Manx State Pension by the highest of earnings growth, inflation or 2.5%, has been a recurring point of political contention in recent Budgets.
