Savings amount


​For each child entitled to child allowance, NIS 52 are deposited each month until he or she turns 18, in addition to the child allowance paid for him or her.

The money is credited the 20th of each month (the same date child allowance is paid), on the savings account opened in the child's name in a provident fund or a bank, according to your choice.

As parents, you can add to this basic savings for each child another NIS 52 per month, paid from child allowance, and thereby doubling the amount of savings for a total of NIS 104 per month.


To calculate the total amount savings up to age 18 - click here

For your information, the provident fund or the bank managing your child savings will send you every year, up to the 1st of March, a report regarding the status of your child's savings. You will also be able to follow review savings on the internet site of the managing body.

Retroactive savings deposits

Retroactive payment will also be deposited in the savings plan for the months of May 2015 up to December 2016.

Over that period, NIS 50 will be deposited into the savings for each month in which the child allowances were paid for the child.
For instance, if child allowance was paid for the child during the entire period (20 months), he is entitled to receive a retroactive payment of NIS 1,000 (NIS 50 for each one of the 20 months).

The amount of retroactive payment due to the child will be credited to the savings plan in installments:

  • February 2017, a NIS 100 deposit
  • March 2017, a NIS 300 deposit
  • May 2017, a NIS 200 deposit
  • October 2017, a NIS 100 deposit
  • February 2019, a NIS 102 deposit

Please note, all retroactive payments have been deposited for those who turned 18.

Subventions

When the child turns 18, a subvention of NIS 522 will be credited to the savings.

Besides, if the child does not withdraw any of the savings money until the age of 21, another subvention of NIS 522 will be deposited at age 21.

Children born from 1.1.2017 - will not receive the grant at the age of 18, but will get a grant of NIS 261 at age 3, another one of NIS 261 at the age of bar/bat mitzvah (13 for boys and 12 for girls), and if the child does not withdraw any of the savings money until the age of 21, he or she will receive a last grant amounting to NIS 522 .

Management fees

Savings management fees are paid by the National Insurance Institute until the child reaches age 21. After his or her 21st birthday, management fees will be deducted from the savings account.

as of Jan 01, 2022