In January 2017, the National Insurance Institute launched a savings plan for each child up to the age of 18.
As part of the savings plan, a sum of NIS 57 is deposited each month and for every child, in addition to the child allowance paid for him. The money is transferred to a dedicated savings account on the child's name, in a provident fund or a bank, as decided by parents.
Parents can add to the child's savings another sum of NIS 57 from the child allowance, and thereby double the amount saved.
The savings plan will enable the child to start his adult life with an initial capital, that will open new opportunities for him.
Deposit amount as of Jan 01, 2025