Tynwald Member Pension Scheme Information

Summary

A request was made to the Public Sector Pensions Authority regarding the pay elements and contribution percentages for the Tynwald Member Pension Scheme. The authority disclosed that members contribute between 10% and 15% of their salary, while the government contributes 15% plus any funding shortfalls.

Key Facts

• Pension contributions are calculated based on the Annual Sum (basic salary) and any Additional Sum paid to office holders.
• New Tynwald members appointed on or after 23 September 2016 pay a 10% contribution rate.
• Members who chose Section 8a of the scheme face a transitioning contribution rate increasing by 1% annually over 5 years to reach 15%.
• The government contributes 15% for each member and covers any shortfall between total contributions and benefits expenditure.
• The response was issued on 17 November 2017 following a request received on 28 October 2017.

Data Disclosed

• 23 September 2016
• 10%
• 15%
• 1%
• 5 year period
• 28 October 2017
• 17 November 2017
• IM108545I
• Section 8
• Section 8a

Data Tables (1)

Full Response Text

Public Sector Pensions Authority
Freedom of Information Act 2015 (the Act)
Request Reference IM108545I

Thank you for your online request received on 28 October 2017 for the following information:

1. What elements of pay does an MHK pay a percentage of.
2. What percentage does the member make to his pension
3. What percentage is paid from the public purse to the members pension
   Response to your request: What elements of pay does an MHK pay a percentage of. The Annual Sum (basic salary) and any Additional Sum which is paid to certain office holders. What percentage does the member make to his pension
   Those individuals newly appointed to Tynwald on or after the 23 September 2016 who chose to join the Isle of Man Government Unified Scheme 2011 Section 8, pay a contribution of 10% of the Annual Sum (basic salary) and any Additional Sum which is paid to certain office holders. Those Members who joined the Isle of Man Government Unified Scheme on the
   23 September 2016, who were previously active members of the Tynwald Membership Pension Scheme 1995, had a choice to join either Section 8 or Section 8a of the Scheme.
   Members who chose Section 8 pay 10% of their Annual Sum and any Additional Sum. Those who chose Section 8a currently pay a contribution of 10% of their Annual Sum and any Additional Sum. However, their contributions are transitioning by 1% each year over a 5 year period up to a contribution of 15% of their Annual Sum and any Additional Sum. The contribution rates are stated in the Rules of the Isle of Man Government Unified Scheme which can be accessed on the PSPA website here: https://www.gov.im/media/1359060/gus-consolidated-october-2017.pdf What percentage is paid from the public purse to the members pension

Chief Executive Officer Ian T Murray BCom (Hons), APMI 3rd Floor Prospect House 27-29 Prospect Hill Douglas, ISLE OF MAN, IM1 1ET Enquiries: (01624) 687023 Fax: (01624) 685761 Website: www.pspa.im

Date 17 November 2017 Public Sector Pensions Authority Lught-reill Penshynyn y Cherroo Theayagh For those public sector pension schemes in the management of the PSPA, Government makes a contribution of 15% in respect of each member, including Tynwald Members. Government also meets any shortfall between overall total pension contribution income (employer and employee) and total pension benefits expenditure. Your right to request a review
If you are unhappy with this response to your freedom of information request, you may ask us to carry out an internal review of the response, by completing a complaint form and submitting it electronically or by delivery/post to me at FOI.PSPA@pspa.im. An electronic version of our complaint form can be found at www.gov.im/foireview. If you would like a paper version of our complaint form to be sent to you by post, please contact me and I will be happy to arrange for this. Your review request should explain why you are dissatisfied with this response, and should be made as soon as practicable. We will respond as soon as the review has been concluded.
If you are not satisfied with the result of the review, you then have the right to appeal to the Information Commissioner for a decision on;
1. Whether we have responded to your request for information in accordance with Part 2 of the Freedom of Information Act 2015; or 2. Whether we are justified in refusing to give you the information requested.
In response to an application for review, the Information Commissioner may, at any time, attempt to resolve a matter by negotiation, conciliation, mediation or another form of alternative dispute resolution and will have regard to any outcome of this in making any subsequent decision. More detailed information on your right to a review can be found on the Information Commissioner’s website at www.inforights.im/. Should you have any queries concerning this letter, please do not hesitate to contact me. Further information about freedom of information requests can be found at www.gov.im/foi.
Yours sincerely

FOI Co-Ordinator Public Sector Pensions Authority