Retirement Guidance

Prior to your retirement you need to create a retirement plan which fits the specific needs of your family, e.g.:
– How much monthly allowance will you need?
– Do you want to guarantee additional pension payments after you die?
– Will you need single large withdrawals from your pension fund?
– How much tax will you have to pay?
And many more considerations.

We know how to help you with these decisions as well as how to optimize your tax liabilities.
We test and analyze your pension savings and recommend ways to best optimize their benefits. We know how to advise and guide you, as well as to manage the plans in cooperation with your employer and the various pension entities.

Planning retirement and entering retirement is a complex process in several respects.
On a personal level one has to take a number of decisions:

– When to start applying for the monthly pension payment / annuity?
– Which pension savings to keep?
– Which pension savings to convert into a monthly allowance?
– How much money to withdraw as a lump sum?
– What kind of annuity to allocate to a spouse after death?
– How much to bequeath to future generations?
Just to mention a few.
These are all very personal but crucial decisions for a long and prosperous life.
In addition, all options to exploit tax benefits should be considered:
– The amount of tax exemption on your monthly allowance?
– The amount of tax exemption on the capital withdrawals?
– Which pension funds are tax-exempt and which are taxable?
– How much tax will I need to pay each month?
Unfortunately, the pension system in Israel is not the simplest, but we have the expertise and patience to explain, clarify and direct. Those who have already retired will also be advised to check whether they have taken advantage of the tax benefits they qualify for. If you did not apply for any of these tax exemptions. We will guide you on how to apply for them and get tax refunds. Sometimes tax savings and refunds are very high.
It is clear that retirement is an important period of your life, for which you need professional guidance.

When to start planning retirement?

Retirement experts say it is never too early to start planning for retirement. In fact, as early as our first working day at 21, when the first shekel enters the pension plan, we begin planning for retirement.
In fact, we recommend that you already now begin to consider how you picture your retirement years. Even if you do not feel “ready for retirement”, by your mid- to late-50s you should have begun planning..

If your ideas match your previous pension plan-activities and there is a fixed date for retirement, then you only have to follow the instructions of the pension company.

However, we recommend that you do not wait until the last minute.

It is advisable to start preparing and completing the various application forms a few months before retirement. Retirement is a process that will take some time – even beyond the actual retirement date – until the first allowance has been paid and the employment has ended. Only then will there be a decision regarding any tax exemptions you may be entitled to.

We accompany you during the process, starting with aligning your family’s needs with the available pension and savings plans, to the implementation of the retirement plan with the pension companies and tax authorities.

White figurine carrying a golden pension sign

Would you like to learn more about this or our other services?