State’s unfunded pension debt exceeds trillion shekels

The defense institution is accountable for 38% of the actuarial debt, with NIS 389 billion owed to occupation staff.

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The State of Israel’s commitment to individuals with unfunded pensions has exceeded a person trillion shekels, and stood at NIS 1,014 billion at the finish of 2021, up NIS 90 billion in one particular yr. The figures are from the fiscal reports for 2021 produced today by the Accountant General at the Ministry of Finance. The protection establishment is accountable for 38% of the actuarial credit card debt, with NIS 389 billion owed to profession personnel.

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29% of the unfunded pensions are for instructors and lecturers, 18% for police and prison assistance personnel, and 14% for civil servants.

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Unfunded pension preparations have not been presented to new hires for the earlier 20 a long time, but practically fifty percent all those entitled to this kind of pensions (43%) are nonetheless employed by the point out.

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Of the protection institution pensioners, 25% acquire regular pensions under NIS 8,814. 50% acquire about NIS 12,838, with the maximum 25% getting more than NIS 17,707 monthly.

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Revealed by Globes, Israel business enterprise 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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Avigdor Liberman  credit: Israel Democracy Institute

Avigdor Liberman credit: Israel Democracy Institute