State’s unfunded pension debt exceeds trillion shekels

The State of Israel’s determination to persons with unfunded pensions has exceeded a person trillion shekels, and stood at NIS 1,014 billion at the close of 2021, up NIS 90 billion in one year. The figures are from the financial reports for 2021 released now by the Accountant Typical at the Ministry of Finance. The defense establishment is responsible for 38% of the actuarial credit card debt, with NIS 389 billion owed to job staff.

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29% of the unfunded pensions are for academics and lecturers, 18% for police and jail service staff, and 14% for civil servants.

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Unfunded pension arrangements have not been given to new hires for the past twenty many years, but almost 50 percent those people entitled to these kinds of pensions (43%) are still used by the condition.

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Of the protection establishment pensioners, 25% receive monthly pensions down below NIS 8,814. 50% get over NIS 12,838, with the highest 25% receiving in excess of NIS 17,707 month to month.

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Posted by Globes, Israel small 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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