The Island's National Insurance Fund has recorded another major shortfall totalling £10.4 million.
It's the second year running that spending from the fund has exceeded the NI contributions paid into it - last year the shortfall stood at £14 million.
A report published in May estimated that unless changes were made the Manx National Insurance fund would be exhausted by 2054 - with pension spending set to increase by more than 500 per cent.
Treasury Minister Eddie Teare has branded it further evidence that we're at a turning point with the welfare system and must start to make changes to ensure its future sustainability:
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