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:
Annual Island marathon to be held this weekend
New Douglas lifeboat to arrive in the capital this afternoon
Road in the south to close for three days next week
Changes to pensions of government workers being considered
Victoria Road Tesco closed due to incident
Fairy-themed crafts and photography event to be held this weekend
Douglas Council unveils 'ambitious' plans for Pulrose parks
Delays expected around Liverpool airport this weekend
