The old age insurance is designed to ensure that residents of Israel receive a regular monthly income in their old age.
Any Israeli residentA person whose life is centered in Israel. Criteria for determining this include: Israel is your permanent place of residence, where your family resides, where your children go to school, your primary place of work, or where you are studying. born in Israel or who first immigrated before the age of 62 for a man, or before retirement age for a woman, is eligible for an old-age pension provided he or she meets the conditions of entitlement.
A person who first immigrated to Israel after the age 62, will receive a special old age benefit under certain conditions.
An Israeli resident who moved to a convention country may be eligible for an old age pension even if he or she ceases being an Israeli resident.
An Israeli resident who began receiving an old age pension in Israel and moved abroad may be able to continue receiving the pension even if he or she ceases being an Israeli resident.
Senior citizens who don't receive an income supplement due to their income from retirement pension - may be entitled to additional advantages from other institutions similarly to income supplement recipients.
Those whose income from retirement pension exceeds the gross amount of NIS 3,046 (as of Jan 01, 2024) for a single person or NIS 4,801 (as of Jan 01, 2024) for a couple, and who has been covered for the first time with retirement insurance since January 2008 - can submit a claim for income supplement along with an authorization from the retirement funds offering them coverage or from the retirement clearing-house, regarding the date of their registration with a retirement fund, and their claim will be examined according to the rules.