Pension savings
Pension is your future, proper planning will allow you financial stability for years to come and the right thing is to start planning it now. The younger you start saving, the stronger your safety net will be!
We at Yanshuf will be happy to match you with the unique solution for your needs in a few simple steps.
What is
pension savings?
Pension savings play three main roles in the life of the client and his family:
Financial security during retirement
Providing a financial response to the insured and his family in the event that he is unable to work
Providing a financial response to the family in case of premature death
When you reach retirement age, the savings are paid as a monthly amount (annuity) for life, when beyond a minimal annuity, you can also receive lump sums. Savings deposits are entitled to tax benefits (credit/deduction according to the law), given by the state to encourage pension savings.
The variety of pension solutions in Yanshuf
-
A provident fund is a type of long-term savings plan designed to accumulate funds for retirement, suitable for both employees and the self-employed. -
A training fund is a savings plan designed to finance professional training for employees, but it has also become an attractive savings plan for anyone, including the self-employed.
-
Executive insurance is a type of long-term savings designed to accumulate funds for retirement, with additional coverage for accidental death and disability.
-
A pension fund is a long-term savings plan designed to provide monthly income upon retirement and insurance coverage in the event of disability or death. It is suitable for both employees and the self-employed and offers tax benefits up to a certain ceiling established by law.
Provident fund
A provident fund is a type of long-term savings plan designed to accumulate funds for retirement, suitable for both employees and the self-employed. The State of Israel offers tax benefits to savers, up to a certain limit, and encourages everyone to prepare for retirement. Funds deposited until the end of 2007 can be withdrawn in a lump sum, while funds deposited from 2008 onwards can be paid as a monthly installment or as a lump sum, subject to certain conditions.
Here at Yanshuf Insurance, we provide through a personal approach your personal pension solution according to your changing life situation.
Important Information:
Amendment 190 to the Income Tax Ordinance allows individuals to manage their liquid funds within a provident fund, and withdrawals as an annuity are completely exempt from tax. In 2016, new provident funds were launched that offer the possibility of withdrawing savings at any time, paying a tax of 25% of the real profit and receiving tax-free pensions at retirement.
Education fund
A training fund is a savings plan designed to finance professional training for employees, but it has also become an attractive savings plan for anyone, including the self-employed. Both employees and the self-employed can benefit from tax benefits provided by the State of Israel through savings in a training fund. Employees can enjoy a tax exemption on the employer’s deposit up to a certain ceiling, while the self-employed can enjoy tax benefits by depositing up to 7% of their annual income, of which a 4.5% deposit is recognized up to the ceiling. Savings for deposits up to the ceiling are also exempt from capital gains tax. Withdrawal of the funds is possible after six years from the date of the first deposit, subject to certain conditions. The training fund is a simple savings plan with periodic reports that makes monitoring the savings easy and convenient.
Important Information:
Savings in a training fund should be considered part of the family’s investment portfolio, as it enables additional capital savings for retirement. You should consider alternatives to repaying the principal, such as obtaining a low-interest loan, since the funds are taxed if withdrawn prematurely. At Yanshuf Insurance, a personal agent can provide ongoing professional support and adapt the solution to the needs of each saver, while ensuring that the savings plan is appropriate.
Manager insurance
Executive insurance is a type of long-term savings designed to accumulate funds for retirement, with additional coverage for accidental death and disability. The amount of coverage can be adjusted according to personal needs, and the State of Israel offers tax benefits to savers. The annuity coefficient determines the monthly annuity received during retirement, and it is important to regularly check the insurance situation with a personal agent in order to make sure that the savings and insurance solutions remain suitable for individual situations.
At Yanshuf Insurance, we offer personalized support to create a suitable pension solution for you.
Important Information:It is important to check the insurance situation every year and after any significant life change such as marriage or the birth of a child to make sure that the savings plan is still suitable. Executive insurance offers flexibility and customization for pension savings with additional coverage, making it a suitable option for employees at any stage of life.
Pension Fund
A pension fund is a long-term savings plan designed to provide monthly income upon retirement and insurance coverage in the event of disability or death. It is suitable for both employees and the self-employed and offers tax benefits up to a certain ceiling established by law. The comprehensive pension funds offer pensions for old age, disability and survivors. Yanshuf Insurance offers a personal agent to provide continuous support and adapt the pension solution to the needs of each saver. To make sure that the savings are appropriate, the savers can check their situation on the website and contact us every year or whenever their family situation changes.
Overall, a pension fund is an attractive option for those who want a long-term savings plan with tax benefits and insurance coverage. At Binshoff, we offer a personalized approach to pension solutions, and you can ensure that your savings are appropriate by regularly contacting us.
Our range of services
