Donate
Articles & Tools

Ways to choose a governing body and track in the “Savings for Every Child” program

Starting in January 2017, the state will begin depositing NIS 50 each month in a savings plan for every child under the age of 18. Parents can choose the body that will manage the savings and the route. How do you do it?

Starting in January 2017, the state began depositing NIS 50 per month into a savings plan for every child under the age of 18. Parents can choose the entity that will manage the savings and the investment track. How can you join?

1. How to Apply

You can apply through the National Insurance Institute using one of the following methods:

  1. Online: Visit the National Insurance Institute’s “Savings for Every Child” website and fill out the online form.
  2. By SMS: Send the word “child” via SMS to 055-7000200 and receive a link to make your selection.
  3. By Phone: Call the National Insurance Institute’s call center at *2637 or 02-5393700, available Sunday to Thursday, 08:00–17:00.
  4. By Mail or Fax: Download and complete the “Savings Plan Selection Form” and send it to the National Insurance Institute by fax or mail.

Your selection must have been made by June 1, 2017. If you did not make a selection by this date, the National Insurance Institute automatically assigned a managing entity and placed the savings in a low-risk investment track.

2. How to Fill Out the Online Form on the National Insurance Institute Website

2.1 Parent Identification

At this stage, you will need to choose a convenient identification method from the following options:

  • Bank account number
  • ID card issuance date
  • Credit card number

2.2 Choosing Savings Preferences – One Decision for All or Individually for Each Child

At this stage, you must decide whether to apply the same choice to all your children or select different options for each child.

  • If all your children are of similar ages (e.g., all teenagers or all young children), you may prefer to apply the same choice for everyone.
  • If you have both younger and older children, you might want to select different options based on their needs and financial considerations.

2.3 Increasing Savings Using “Child Allowance”

You have the option to add an additional NIS 50 per month to the state’s deposit (NIS 50 per child). This additional amount will be deducted from your child allowance.

This is a great opportunity to build a larger financial cushion for your child’s future. If financially feasible, it is strongly recommended to increase the savings.

3. Choosing the Managing Entity and Investment Track

The Ministry of Finance has selected banks and investment companies to manage the savings for each child. You can choose where to invest the savings.

  • For information on savings in provident funds
  • For information on bank savings

3.1 Key Considerations When Making Your Choice

  • If you choose to save in a bank, you will not be able to transfer the savings to another bank.
  • If you choose a provident fund, you can transfer savings from one fund to another or switch between different investment tracks.
  • Provident funds offer three risk levels:
    • Low-risk
    • Medium-risk
    • High-risk

If your child is still young, remember that this is a long-term savings plan. This may justify selecting a higher-risk investment option than you would choose for yourself.

4. Learn More About the “Savings for Every Child” Program

For additional information, visit the dedicated National Insurance Institute website on the program.
To access the online application form, visit the National Insurance Institute website.

Going Green: Top Eco-Friendly Trends for 2025

לפרטים נוספים Going Green: Top Eco-Friendly Trends for 2025

New Year, New Financial Goals: Preparing Your Funds for 2025

לפרטים נוספים New Year, New Financial Goals: Preparing Your Funds for 2025
עיצוב ללא שם (22)

What the bank must tell you

לפרטים נוספים What the bank must tell you
עיצוב ללא שם (12)

Elevating the Professionalism of Paamonim’s Support System

לפרטים נוספים Elevating the Professionalism of Paamonim’s Support System

Looking for Something? Let’s Find It

Skip to content