...

Israel to gradually raise retirement age for women from 62 to 65

Israel Materials 3 August 2021 07:03 (UTC +04:00)
Israel to gradually raise retirement age for women from 62 to 65

The Israeli government decided to gradually raise the retirement age for women from 62 to 65, the finance ministry said, Trend reports citing Xİnhua.

According to the new decision, the retirement age for women in Israel will increase by four months a year for three years, and by three months a year for another eight years.

The current retirement age for women is not compatible with the significant increase in life expectancy and the ongoing process of the population aging in Israel, the statement said.

"The low retirement age for women adversely affects the employment rates of older women and their status in the labor market, harming their ability to maintain an adequate standard of living after retirement," it said.

Furthermore, the aging population in Israel will lead to a dramatic increase in the state's pension and health care expenses, which will endanger the stability of the national insurance, it added.

Tags:
Latest

Latest