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The Knesset supported the bill to abolish the tax on the withdrawal of pension savings

At the December 23, the plenary session of the Knesset in the first reading approved the bill of the Deputy from party «Our house Israel» Sofa Landwehr, providing for the abolition of the tax levied in the case of lump-sum pension money in the amount of 100 thousand shekels. The legislative initiative of Parliament, NDI was approved unanimously – it was voted 78 deputies.

Under the bill, if by the time the man retired in his pension Fund had accumulated less than 100 thousand shekels, then he is entitled to collect the entire amount without paying 35% tax.

«After the entry into force in 2008 of the law on compulsory pension insurance the pension people in the box office had accumulated some money. But many of them, especially in the pre-pension age, these savings were negligible and monthly payments with them are minimal. Insurance companies refuse to pay 100-300 shekels a month, for them it is «ridiculous» amount. So they offer to take all the money at once. But for that, under current law, you have to pay 35% tax. The result is a stalemate: people are to take their money at once, and, thus, forced to accept the loss of a significant amount,» – says the Sofa Landwehr initiative.




The Knesset supported the bill to abolish the tax on the withdrawal of pension savings 24.12.2015

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