Apply to the National Insurance Institute through one of the following channels:
- Go to the National Insurance Institute’s Savings for Every Child website and fill out the computerized form.
- Send the word “child” by SMS to the phone number: 0557000200 and receive a link to make the choice.
- Call the National Insurance Institute call center at *2637 or 02-5393700 Sunday through Thursday between 08:00-17:00.
- Download and fill out the form “Savings Plan Selection Form” and send it to the National Insurance Institute by fax or mail.
Your choices regarding the savings plan for each child must be made by June 1, 2017. If you do not choose by then, the National Insurance Institute will choose the body that will manage your child’s savings and the track (low-risk savings track).
How do I fill out the
computerized form at the
National Insurance Institute?
Parent identification stage
At this stage, you will be asked to choose an identification method that is convenient for you from several options: bank account number, date of issuance of the ID card, credit card number.
Combine update options – decisions for each child individually or for all children together
At this stage, you will have to choose whether to make decisions that apply to all your children or the option to make decisions for each child individually.
The answer to this question usually depends on the age of the children, if your children are all or all teenagers then the decisions you make are suitable for everyone. If you have both older and younger children, the considerations that guide you in choosing may be different and you will want to decide differently for your young children and your adult children.
Increase savings at the expense of child allowance?
You can choose whether to add an additional monthly savings amount of NIS 50 to the savings allocated by the state (NIS 50 per child) that will be paid out of the child allowance. This savings channel is attractive and will help your children when they grow up. We strongly recommend increasing savings if economically feasible.
The stage of choosing the governing body and the savings track
The Ministry of Finance chose banks and investment companies as options for managing savings for each child. You can choose which company to manage your money with.
For information on savings in provident funds
For information on bank savings
If you choose to manage your savings at the bank, you will not be able to transfer it to another bank. From one provident fund to another, it will be possible to transfer the savings easily, as well as from one track to another in the provident fund.
If you choose a provident fund, you can choose the investment track that suits you: low-risk, medium-risk, or high-risk.
If your child is small, be aware that saving is actually long-term savings and may be suitable for a higher level of risk than you would choose for yourself.
Learn more about saving for every child
A dedicated National Insurance Institute website on savings for every child
To the computerized form of the National Insurance Institute
