Israel [pension investment] advice

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Israel [pension investment] advice

Post by Sasha » Sun Jan 12, 2020 4:42 pm

Hello all,

When I worked in Israel, I and my employer paid into pension schemes (similar to the 401K in the USA).

I no longer live in Israel and therefore no longer contribute money to these pension schemes.

Israel does not permit the transfer of pensions to another country's pension scheme; so I must leave the money there.

I have been contacted by the broker (of the pension scheme) who has advised me to switch to a different type of fund.

My questions require specific knowledge of the Israeli system, I suppose:
1. should I switch from a Keren Pensia to a Kupat Gemel? I have read conflicting articles and do not know what I should do.
2. If I switch to a Kupat Gemel, how should I invest the money and where (with which brokerage)?
3. If I leave the money in a keren pensia (where it is at the moment), how should I invest the money and with which brokerage?

Thank you for your time.



Posts: 77
Joined: Tue Mar 20, 2018 12:47 pm

Re: Israel [pension investment] advice

Post by guliver » Mon Jan 13, 2020 8:59 pm

I haven't lived there for >5 years so don't want to give advice. However, the Israeli equivalent to this forum is I'd ask there.

By the way, you didn't mention if you are US based. If so, US taxation of such funds is complicated (even before retirement) and might by itself be a reason to stick with a pension fund. If you're in the US, I'd suggest you consult an Israeli\American CPA.

Good luck!

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