National Insurance Launches Campaign to Double Children's Savings
Translated & summarized from Ice by baba
The National Insurance Institute is urging parents to double their children's monthly savings to 116 shekels through its "Savings for Every Child" program. By adding 58 shekels to the government's 58 shekel contribution, parents can significantly increase potential future savings, with projected amounts varying greatly by investment choice. The campaign aims to address the 50% of children whose parents have not actively chosen a savings plan, potentially missing out on substantial growth.
The story in 5 lines · by baba
- National Insurance urges parents to double children's monthly savings to 116 shekels.
- Doubling the deposit can lead to significantly higher accumulated sums by age 21.
- Investment track choice greatly impacts projected savings, with higher-risk options yielding more.
- About 50% of children have not had parents actively choose a savings plan.
- Parents can manage savings, double deposits, or change tracks via the Institute's website.
The National Insurance Institute has launched a new campaign urging parents to increase their children's savings under the "Savings for Every Child" program. The campaign highlights that simple actions on the Institute's website can double the monthly deposit, significantly boosting the accumulated sum for each child.
Parents can double the monthly deposit to 116 shekels by adding an amount equal to the National Insurance's contribution. Starting January 1, 2026, the Institute will deposit 58 shekels monthly for each eligible child, in addition to child benefits. Parents can opt to add another 58 shekels from the child benefit, doubling the deposit to 116 shekels. This additional amount begins the month after selection and can be canceled at any time.
The choice of investment track also significantly impacts the final sum. The National Insurance Institute provides estimated figures for savings by age 21 based on different investment paths. For instance, in a higher-risk provident fund, a 58 shekel monthly deposit is projected to yield approximately 63,178 shekels by age 21. Doubling the deposit to 116 shekels could result in an estimated 122,639 shekels. Lower-risk options show similar disparities, with a 58 shekel deposit yielding around 23,951 shekels and a doubled deposit reaching an estimated 46,227 shekels. Bank savings accounts show comparable differences, with projections of about 21,000 shekels for a single deposit and 42,000 shekels for a doubled deposit.
The Institute emphasizes that these are estimated amounts based on average returns, not guaranteed sums. The actual outcomes depend on the chosen savings track and market performance. Parents who do not select a savings track within six months of their child's birth will have a default track opened without the doubled deposit. Campaign data indicates that about 50% of children born have not had their parents actively involved in selecting a savings plan, thus missing the opportunity to double the monthly contribution.
Parents can choose between investment provident funds, which offer various risk levels and religious-based options, or bank savings accounts with fixed or variable interest rates. Changes to investment tracks in provident funds are possible at any time, while bank savings accounts have stricter limitations on changing tracks and cannot be transferred between banks. Funds are accessible from age 18 with parental consent, with additional grants provided at ages 3, bar/bat mitzvah, and 18, with a final grant at age 21 if funds remain untouched. Management fees are covered by the National Insurance Institute until age 21.
Not the same event — other stories that share this one’s people, places, or theme: background, reactions, and follow-ups.
