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Pension Funds

A pension fund is an instrument that includes, in addition to the retirement savings element, coverage in the event of death (Survivors Pension) and in case of disability or loss of working capacity (Disability Pension). Survivors and Disability coverages are conducted with a mutual guarantee of all fund members (partners); this is unlike Management Insurance, which constitutes a personal contract, and the insurance company provides the insurance coverages.

Risk management by mutual guarantee of the members lowers membership costs in the Pension Fund, along with the risk or chance of demographic structure return.

What does a Pension Fund include?

  • Salaried employee – deposits of percentage of the monthly salary by the employer and the employee
  • Self-employed individuals’ deposit to the pension fund is paid in full by the self-employed member.
  • Mutual guarantee – the members of the pension fund insure themselves.
  • The savings accrued in the fund will be paid to the salaried employee or self-employed members as a monthly annuity for life, after their retirement.
  • In the event of the member’s premature death – a survivor’s pension will be paid to his or her heirs/relatives.
  • Coverage in case of disability/loss of working capacity – a disability pension shall be paid to the insured.
  • Tax benefits – self-employed individuals are eligible for tax credits and deductions on their deposits. 
  • Management fees – paid to the company managing the Pension Fund, from the monthly deposits and annual accumulation.

Advantages of Pension Funds

Flexibility in choosing the insurance routes, while adapting them to customers’ needs

Flexibility in choosing old-age pension tracks upon retirement, in accordance with each client’s personal situation and preferences.

Low costs of survivor and disability coverages compared to Management Insurance

Diverse investment avenues available for each member to choose (depending on what is offered in each fund)

30% of the money accrued in the fund is invested in designated, index-linked bonds with a guaranteed interest rate of 4.8% per year.

“Betach Toren” insurance agency markets the leading pension funds in the industry and pairs each client with a pension savings plan that considers current salary, needs and future plans.


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