The National Insurance Institute is at your side during your life, from birth to advanced age, granting you a variety of social rights adapted to changing life situations.
The National Insurance Institute is responsible for the social security of Israeli residents.
Its primary mission is to ensure means of subsistence for those unable to earn their living.
The National Insurance Institute collects insurance contributions from all residents according to their social background and status, and pays benefits to those entitled. Hence, the income of economically established groups is transferred to weak and vulnerable groups and, thereby, the National Insurance Institute contributes to a more equitable distribution of national income and the reduction of dimensions of poverty. Further information...
You can make changes in the child savings plan, in accordance with the body that handles the savings.
If your child's savings are administered by a provident fund, you can, at anytime over the savings period, change the investment profile to another one of those offered by the fund. To modify the investment profile, you must contact the provident fund that manages your child savings.
Furthermore, you can, throughout the savings period, ask to transfer the management of the savings to another provident fund, chosen from a list of provident funds selected by the Ministry of Finance. Moneys and returns will be automatically transferred between the funds, and the National Insurance Institute will be informed by the new provident fund and shift regular deposits to it.
Please note, savings money cannot be transferred from a provident fund to a bank.
If your child's savings are administered by a bank, you can change savings plan track only if you had selected a savings plan with exit windows every 5 years.
Changing track is possible only during a specified exit window.
If you have opted for a savings plan without exit windows, you will not be able to change the plan track throughout the entire savings period. Moreover, you will not be allowed to transfer savings money from the bank of your choice to another bank or another provident fund throughout the entire savings period.