A man who reaches retirement age and has not yet turned 70, may be entitled to old age-pension if his (gross) income from work does not exceed the following income (authorized income):
Single person –
NIS 9,781 (as of Jan 01, 2025) Couple –
NIS 13,040 (as of Jan 01, 2025) – if you are married, and provided that your wife meets the definition of spouse under National Insurance Law.
If your income slightly exceeds the above-mentioned income, you will be entitled to a proportional old-age pension: the full pension to which you would have been entitled, minus 60% of the difference between your income and the authorized income. The amount of the proportional pension shall not be less than 10% of the basic pension rate. For an individual, the rate of the basic pension is
NIS 1,795 (as of Jan 01, 2025).
However, you may postpone the reception of old-age pension. For each year of pension deferral, you will receive a 5% supplement on the pension to which you are entitled.