this guide follows possible stages in a woman’s life. The idea is to provide you with enough information so that you ask the right questions, know what to watch out for, and make the right decisions as changes occur in your family life or career
The journey to your pension begins when you’re young. Saving for retirement happens throughout your life, and it’s a good idea for you to keep tabs on it, make changes in it if necessary, and, in general, take charge of it.
A pension fund is the most basic and least expensive type of pension plan. It’s the right one for most employed women, especially those who don’t earn a particularly high salary. So why are there other, more expensive types of pension plans, such as bituah menahalim (so-called “managers’ insurance”)? Imagine that you want to buy some new clothes. What do you do? Most women go to a store and choose clothes off the rack that fit and are flattering. Selecting ready-made clothes at a store generally meets a person’s needs. But even if the clothes fit well, they’re never perfect. So some women want clothes that are custom made. Naturally these will be more expensive, but if you have the money or if the clothes in the store aren’t right for you because you have special needs, you might prefer to have them custom made.
If you already have Bituah Menahalim, get professional advice before you change over to a pension fund, if that’s what you’d like to do. A pension fund offers a package that is set in advance, and you can choose various options within it, just as you would choose different clothing sizes. Bituah Menahalim is like a custom made dress. It can be fitted to the needs of an individual woman, but it’s more expensive.