State’s unfunded pension debt exceeds trillion shekels

The protection institution is dependable for 38% of the actuarial financial debt, with NIS 389 billion owed to job staff.

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The Point out of Israel’s motivation to folks with unfunded pensions has exceeded just one trillion shekels, and stood at NIS 1,014 billion at the end of 2021, up NIS 90 billion in a person calendar year. The figures are from the financial reviews for 2021 introduced now by the Accountant Basic at the Ministry of Finance. The defense establishment is dependable for 38% of the actuarial financial debt, with NIS 389 billion owed to vocation staff.

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

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Unfunded pension preparations have not been offered to new hires for the previous twenty several years, but almost 50 % those entitled to this sort of pensions (43%) are continue to employed by the condition.

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Of the defense establishment pensioners, 25% obtain every month pensions down below NIS 8,814. 50% receive in excess of NIS 12,838, with the best 25% receiving more than NIS 17,707 monthly.

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Released by Globes, Israel business 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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Avigdor Liberman credit score: Israel Democracy Institute