Monthly allowance - the monthly payment that you are expected to receive at retirement age.
The retirement age for women is 64
The retirement age for men is 67
A pension fund is a long-term or medium-term savings method for salaried and self-employed employees and is designed to assure income on retirement. The funds may only be withdrawn at retirement age, or if earlier with a much higher tax rate.
The pension fund works on the basis of a mutual guarantee between members of the fund and its purpose is to guarantee a monthly pension on retirement. In addition, the fund includes insurance covers such as survivors' pensions and disability.
Constant pension payments deposited throughout your career will ensure retiring with dignity. The insurance coverages in the fund will protect the policyholder and his loved ones during the period of his employment.
The system compares your various pension funds and maximizes savings while maintaining a desired level of risk.
A provident fund is a long-term or medium-term savings product for salaried employees and the self- employed, that is intended to guarantee income upon retirement.
Unlike a pension and executive insurance fund, a provident fund is intended for savings only, without the insurance coverage.
The system compares the various funds and maximizes savings by choosing the most profitable fund.
An education fund is a savings plan that is tax exempt for a period of 6 years and thereafter. After six years, the education fund becomes liquid and can be withdrawn.
For employees, money is deposited continuously by both the employee and the employer.
For the self-employed, you can deposit up to 7% of annual income and receive attractive tax benefits.
The system compares the various funds and maximizes savings by choosing the most
Manager’s insurance is a product for long-term savings in the form of a contract between the insured and the insurance company. This plan grants an annuity at the time of retirement. In addition, it contains insurance covers such as life insurance and work disability.
Regularly depositing savings throughout your career, ensures that you can gracefully retire with dignity. The insurance coverages in the fund will protect the policyholder and his loved ones during the period of his employment.
The system compares the various funds and maximizes savings by choosing the most profitable fund.
Life insurance or risk insurance as it is sometimes called, ensures economic security to your loved ones in the event of your death.
This insurance is intended to ensure economic security in the form of a one-time payment that is pre-defined in case of premature death of the insured.
Our system checks that your insurance coverage is tailored to your personal situation, taking into consideration your age, your salary, and your marital status. If there is a gap between the current coverage and the optimal coverage, the system will alert you and make recommendations.
Health insurance covers expenses related to medical care, such as surgery, transplants, medications, and more.
In many cases, the supplementary insurance offered by the health funds is insufficient to cover the treatment of choice and for that reason it is necessary to purchase private health insurance.
First, the system checks whether you have health insurance. We will then examine if there is double insurance or double coverage that does not qualify for double compensation. In addition, we will check if you lack coverage in any form and according to the results, the system will recommend a suitable course of action for you.
Long-Term Care insurance grants a monthly monetary benefit to the insured for a defined period of time in case long-term care is required.
The cost of nursing caring for an ailing person can amount to tens of thousands of shekels a month. Most families cannot afford this kind of long term treatment.
First, the system checks whether you have long-term care insurance. If so, we will check whether there is double coverage. Depending on the test results, the system will recommend a suitable course of action for you.
Critical illness insurance provides one-time compensation when a serious illness is diagnosed.
Often, even after receiving payment from the health insurance, loss of the ability to work may mean that your family finds itself in financial difficulties. This insurance can provide another source of income.
First, the system checks whether you have serious illness insurance. If so, we will check whether there is double coverage. Depending on the test results, the system will recommend a suitable course of action for you.
Personal accident insurance provides the insured with compensation for events such as: fractures, disability, nursing and hospitalization as a result of an accident. In addition it provides compensation to your loved ones in case of accidental death.
In the event of an accident, this insurance policy provides financial compensation for a personal accident in which you were involved according to the severity of the injury.
First, the system checks whether you have personal accident insurance. If so, we will check whether there is double coverage. Depending on the test results, the system will recommend a suitable course of action for you.
Work disability is a monthly amount of money that is paid in case the insured person loses his ability to work as a result of illness, accident, etc., for a limited period or on a regular basis.
This coverage allows the insured to receive monthly payments, as a substitute for his salary, to ensure a source of income that will protect the family members and will maintain their current standard of living.
The system compares the amount of the existing coverage with the level of salary that was entered into the system and alerts when the insured has coverage that is lower than the ceiling recommended. The system also alerts when the insured pays for a cover that he cannot claim in case of need. (For example, in cases where more than 75% of the salary is paid)
Cover of relatives is a monthly payment to the insured's relatives in case of premature death. This coverage is usually purchased as part of the pension fund.
This insurance is intended to ensure economic security in the form of a monthly payment to the insured person’s relatives in case the insured dies prematurely.
The system checks if there is enough insurance coverage that matches your profile? If there is a gap between the current coverage and the optimal situation, the system will alert you and make recommendations accordingly.
Mortgage insurance pays the bank the balance of the mortgage at the time of death.
This insurance ensures that the bank (and not the family) pays the balance of the mortgage at the time of the insured's premature death.
If you have this insurance in place, we recommend that you consider lowering the monthly payments.
The amount of compensation you will receive if an insurance event occurs.
The monthly deposit changes each year depending on the age of the insured.
A certificate that is issued by the Tax Authority to anyone who has declared himself self-employed.
This is a number issued by the Registrar of Companies for the employer in a private company.
This information can be found on the website of the Registrar of Companies or can be supplied by a contact person in the company.
Compensation is the money that is recompensed to you in the event of dismissal from work or being replaced at work and is entrusted solely to the employer.
Yield is the financial profit that you will receive on money invested in savings or in the capital market.
Rewards are a part of your pension savings that can only be withdrawn upon retirement.
The benefit monies are intended for retirement age and are deposited by both the employee and the employer.
Insurance coverage describes the conditions in the insurance that determine when and how much compensation you will receive from the insurance company, including the scope of the insurance, details of the cases, the conditions and amounts for payment of the insurance benefits to the beneficiary.
This is the date on which the money in the cash register can be withdrawn without penalty.
The insurance amount is the amount of compensation that you will receive if an insurance event occurs.
Recuperation pay is a sum of money that you will receive from your employer once a year, usually during the summer months, in addition to your current salary.
Beneficiaries are the people who you have determined will be entitled to receive the monies at the time of your death.
The premium is the price paid each month to the insurance company for your insurance policy.
These management fees are a monthly commission paid to the body that manages the account. The percentage is derived from the total assets in the fund.
These management fees are a monthly commission paid to the body that manages the account. The percentage is derived from the total monthly deposit to the fund.
This is the amount of money that you are expected to receive on retirement.
Lump sum is the amount of money that can be withdrawn on retirement.
This is the monthly amount that will be available to you upon retirement.
These savings are all the monies that you own in all pension and advanced education provident funds.
A pension fund that was closed to new members since 29 March 1995.
The name of the investment track, is the name assigned to the ranges that make up the portfolio. (The tracks represent percentages of the portfolio.) The name of the track may apply to shares, government bonds or corporate bonds.
The status defines if a fund is active or inactive. An inactive fund is a fund in which money has not been deposited for six months or more.
The status will also define the level of exposure of the product to risks and changes according to the existing investment path.
1. Extremely low
Your risk level defines the desired level of exposure to risk in the pension portfolio, and the system will make recommendations accordingly.
This is the total money in the fund.