The Central Bureau of Statistics published figures on Wednesday about prevailing pension arrangements in Israel. It states that, at the end of 2012, 64% of people over the age of 20 had pension arrangements. The proportion of employees over the age of 20 with pension arrangements is 82%. This figure is unsurprising, because, since 2008, all employees have been required to have pension savings.
The Central Bureau of Statistics also reported that 73% of employees with no matriculation certificate have pension arrangements, compared with 79% of employees with a school matriculation certificate or higher diploma, and 92% of employees with a university degree.
"The difference between the education groups is found in all age groups examined, and the trend is also related to professions that are characterized by different levels of education," said the Central Bureau of Statistics. The most common type of pension arrangement is a pension fund; 59% of all people with some kind of pension arrangement are members of one.
Published by Globes [online], Israel business news - www.globes-online.com - on August 15, 2013
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