The truth is, that when one begins to save for retirement at an early age, this will often improve the family's financial situation.
Join us and enjoy Psagot's professional investment management and range of solutions provided by Israel's largest investment house in pension, provident, and study funds.
Psagot's study funds, allow you, salaried workers or the self-employed, to join funds by means of a simple and rapid procedure and to choose the investment track that best suits you for your personal needs. Through the study fund, it is possible to save for professional studies (after three years of saving) or for any other purpose (after six years), and in certain cases to enjoy tax benefits.
We, at Psagot, aim at managing the client's study funds with responsibility and commitment, while investing maximum resources at our disposal. At Psagot you will find highly qualified professionals with expertise in the management of study funds in a wide range of investment tracks. We are committed to provide qualified and professional services at a high level of availability.
A provident fund for retirement purposes is a pension savings instrument for the self-employed and for salaried workers, based on the regular accumulation of a percentage of monthly income for retirement, supervised by the Ministry of Finance. Savings in the provident fund allows the saver to receive funds at the time of retirement from his employment – as a monthly allowance, in other words a fixed monthly amount, replacing the income he received from the employer (substituting the monthly salary) or as a capital sum (a lump sum) depending on the type of fund chosen and the period of savings. The saver may choose, at his discretion, an investment track provided by the provident fund and may shift freely among the tracks without harming his rights. The law stipulates, among others, the principles and schedules with respect to depositing funds and permissible rates and the principles by which members may withdraw monies from the fund.
Psagot's pension funds offer their savers a pension saving device that allows savings for retirement, as well as insurance coverage for death and disability.
The State of Israel encourages deposits in pension plans by granting tax benefits to depositors in these funds, and since 2008, required each employer to deposit pension monies for its employees in accordance with the minimum rates prescribed by law.