Old Age Pension

From All Rights (Kol-Zchut) (www.kolzchut.org.il)

This portal contains information regarding the various benefits to which Old Age Pension recipients are eligible, as well as the additional benefits to which those receiving an Old Age Pension with income supplement are eligible.

The Old Age Pension exists to ensure monthly income for Israel's elderly residents. Israeli residents who have reached the age required for Old Age Pension eligibility and who were insured by National Insurance in accordance with the required conditions are eligible to receive an Old Age Pension. Contingent on income level, the pension may already be claimed upon reaching retirement age. Nonetheless, there is an age of absolute eligibility in which the pension is given regardless of other income. Those who have reached retirement age and still work may prefer to postpone receiving an Old Age Pension until the age of absolute eligibility in order to receive an additional benefit for postponing receiving the pension.

The Old Age Pension consists of a basic payment which is the same for all recipients, as well as supplements that vary depending on the number of years the recipient was covered by National Insurance, and if additional family members live with the recipient. If the relevant conditions are met, there is also an income supplement for needy recipients.

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