Israel Government Old-age Pension
Hebrew: קצבת זקנה ביטוח לאומי
The basic old-age pension rates
As of January 2014, the basic old-age pension is NIS 1,531 for and individual and NIS 2,301 for a couple. The basic old-age pension people age 80 or older is NIS 1,617 for an individual and NIS 2,387 for a couple.
If each of the couple separately meet the entitlement conditions for an old-age pension, each one of them will be entitled to an individual pension.
In addition to the basic pension, you will also receive:
A seniority increment (insurance) - The old-age pension includes a seniority increment for those who were insured for over 10 years prior to the date of the beginning of his entitlement to an old-age pension, subject to the restrictions prescribed by law.
The seniority increment is 2% of the pension for each full year of insurance after the first 10 years of insurance. The total increment may not exceed 50% of the pension.
Pension deferral increment -This increment is paid in cases in which there was no entitlement to an old-age pension due to income from work (even if no claim was submitted) or, because of the income from work, the insured is only entitled to a small old-age pension, and he waives receipt of the small amount.
A pensioner must reside in Israel for at least 182 days a year, in order to apply for, and receive a pension or a "kitzvat zikna".
|The Amount you Receive||From 01.01.2014|
|For an individual||NIS 1,531|
|For an individual age 80 or older||NIS 1,617|
|For a couple (the pension for a couple is composed of a pension for an individual plus an increment for the spouse)||NIS 2,301|
|For a couple when the pension recipient is age 80 or older||NIS 2,387|
|For an individual + 1 dependent child||NIS 2,015|
|For a couple + 1 child - The increment for the child is paid to only one of them ||NIS 2,785|
|For an individual + 2 or more dependent children*||NIS 2,499|
|For a couple + 2 or more children*||NIS 3,269|
The increment for a child is paid for the first 2 children only.
The increment for each one of the two children is NIS 484 .
The increment for a husband / wife is NIS 770 .
Israel Retirement Income
When you reach retirement age, you are entitled to receive an old-age pension provided that you pass an eligibility test; that your income from work does not exceed (or exceeds by only a small amount) the maximum income, and provided that your income from sources other than work, such as income from property or interest on investments, does not exceed (or exceeds by only a small amount) twice the maximum income. Income from a pension is not taken into account.
Israel Retirement Age
Until June 30, 2004, the retirement age was 65 for men and 60 for women.
From July 1, 2004, the retirement age is determined according to one's date of birth.
The retirement age for men is from 65 to 67 and for women is from 60 to 64, as can be seen in the following tables:
Retirement age for men:
Date of birth (month and year)
|7/1939||8/1939||65 and 4 months|
|9/1939||4/1940||65 and 8 months|
|1/1941||8/1941||66 and 4 months|
|9/1941||4/1942||66 and 8 months|
Retirement age for women:
Date of birth (month and year)
|7/1944||8/1944||60 and 4 months|
|9/1944||4/1945||60 and 8 months|
|1/1946||8/1946||61 and 4 months|
|9/1946||4/1947||61 and 8 months|
Pension Conditions & Allowances
For more information on pensions, conditions, eligibility and allowances, visit the Bituach Leumi website (National Insurance)
Israel Pension App
Israeli app RobinHood puts pensions plans in order. This new app (under development) will tell you where your pension is, how much you have saved, and what your monthly pension will be.
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