The Treasury says increasing the pension age for the island early wouldn't stop the fund running out.
A report to Tynwald this month says the national insurance fund will run dry by 2047 unless action is taken.
But hiking the pension age to 68 in 2037 rather than 2044 would only give one extra year before the money ran out.
The document suggests a range of options such as increasing NI contributions or scrapping the triple-lock on pensions.
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What does it take to close roads?
Firefighters called to fire at tip this morning
Airport recruiting for firefighters
Northern roads to close for half marathon this weekend
City centre street to close for two days
Workshop about impact of substance abuse this morning
Total of 44 bus services running during strike today