Bank of Israel proposes measures to stabilise social security system
Benefit payments set to rise faster than GDP in the coming decades, warns central bank
The Bank of Israel has proposed measures to safeguard the long-term stability of Israel’s social security system, known as ‘national insurance’.
In a new long-term forecast for the system, published on September 15, the central bank says payments will likely grow faster than GDP over the coming decades. This is due to the “ageing of the population and the rapid growth expected by the National Insurance Institute in the number of disability allowance recipients”.
The research estimates that
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