State’s unfunded pension debt exceeds trillion shekels

The State of Israel’s dedication to individuals with unfunded pensions has exceeded one trillion shekels, and stood at NIS 1,014 billion at the conclude of 2021, up NIS 90 billion in just one year. The figures are from the economic stories for 2021 launched right now by the Accountant Standard at the Ministry of Finance. The protection establishment is responsible for 38% of the actuarial financial debt, with NIS 389 billion owed to profession staff.

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29% of the unfunded pensions are for academics 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 offered to new hires for the earlier twenty a long time, but just about half individuals entitled to these pensions (43%) are even now utilized by the condition.

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Of the defense institution pensioners, 25% get month-to-month pensions underneath NIS 8,814. 50% get about NIS 12,838, with the best 25% obtaining more than NIS 17,707 every month.

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Published by Globes, Israel organization information – en.globes.co.il – on June 30, 2022.

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

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