State’s unfunded pension debt exceeds trillion shekels

The Condition of Israel’s motivation to men and women with unfunded pensions has exceeded a person trillion shekels, and stood at NIS 1,014 billion at the end of 2021, up NIS 90 billion in just one year. The figures are from the fiscal reviews for 2021 introduced nowadays by the Accountant Basic at the Ministry of Finance. The protection institution is liable for 38% of the actuarial financial debt, with NIS 389 billion owed to job personnel.

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29% of the unfunded pensions are for teachers and lecturers, 18% for law enforcement and jail company staff, and 14% for civil servants.

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Unfunded pension arrangements have not been provided to new hires for the earlier twenty a long time, but just about half people entitled to these pensions (43%) are however employed by the condition.

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Of the protection institution pensioners, 25% obtain month-to-month pensions down below NIS 8,814. 50% obtain in excess of NIS 12,838, with the maximum 25% getting over NIS 17,707 month to month.

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Printed by Globes, Israel company 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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