65% of Israelis aged 20-64 believe that Israel's retirement age for men of 67 is too high, the Central Bureau of Statistics reported today in its social survey for 2012. In contrast, 50% of Israelis over 65 believe that the retirement is too high.
59% of respondents aged 20-64 believe that the retirement age of women is too high, compared with 50% of respondents over 65.
87% of respondents believe that people who want to continue working after reaching retirement age, should be allowed to do so.
The survey found that only 39% of Israelis over 60 who no longer work -283,000 people - have a private pension arrangement, and 451,000 people do not. Possession of a pension arrangement has a direct effect on the condition of the elderly: 82% of people over 60 with a private pension arrangement say that they cover their monthly expenses, compared with 54% of elderly people with no pension arrangement.
47% of pensioners say that they retired because they reached the legal retirement age, while 26% said that they retired because of cutbacks at their workplaces, and 16% retired because they or family members were in poor health.
The pensions of 30% of pensioners are less than half of the net salary at their jobs. 45% of respondents said that their pensions amounted to 50-70% of their last salary.
79% of retirees said that they stopped working all at once, 13% went on leave or an adaptation period at their employers' expense, and 8% gradually reduced their work hours. 49% of retirees said that they made no preparations for retirement, and 10% said that their preparations were inadequate.
Published by Globes [online], Israel business news - www.globes-online.com - on January 14, 2014
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