State’s unfunded pension debt exceeds trillion shekels

The Point out of Israel’s commitment to persons with unfunded pensions has exceeded one trillion shekels, and stood at NIS 1,014 billion at the end of 2021, up NIS 90 billion in 1 12 months. The figures are from the economical reviews for 2021 introduced nowadays by the Accountant Standard at the Ministry of Finance. The protection institution is accountable for 38% of the actuarial personal debt, with NIS 389 billion owed to occupation staff.

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29% of the unfunded pensions are for instructors and lecturers, 18% for law enforcement and jail services personnel, and 14% for civil servants.

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Unfunded pension arrangements have not been supplied to new hires for the earlier 20 a long time, but practically half these entitled to these pensions (43%) are nevertheless employed by the condition.

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Of the protection establishment pensioners, 25% acquire regular pensions underneath NIS 8,814. 50% obtain in excess of NIS 12,838, with the best 25% receiving over NIS 17,707 every month.

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Released by Globes, Israel business enterprise news – en.globes.co.il – on June 30, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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