A person's entitlement to an old age pension from retirement ageThe age at which you will be entitled to the old-age pension, on condition that your income from work and from other sources does not exceed a certain amount. Income from work pension is not taken into account. Retirement is set at age 67 for men and 62-65, according to birth date, for women. up to the age of entitlement to old-age pensionThis age of entitlement is set at 70 for both men and and women, and eligibility for an old-age pension is not subject to a means test. is conditional on passing an income test.
The income taken into account for this purpose is work and non-work income.
Important information!
Upon switching from the disability pension to old-age pension, there is no income test.
When you reach retirement age, you will be entitled to the pension regardless of your income.
The calculation of income level depends on the type of income:
Please note, if you are not entitled to receive an old-age pension between retirement age and the age of entitlement to the pension due to high income, you will be entitled to a pension deferral increment to your monthly old-age pension at the rate of 5% for every year you did not receive the pension due to your income.
Income that is not taken into account in examining eligibility for old-age pension
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Income from a pension paid from Israel or abroad.
- Linkage differentials on deposits or savings plans - provided that they are exempt from income tax.
Income test for those who received a general disability pension before reaching retirement age
Those who received a disability pension before reaching retirement age, will receive at retirement age an old-age pension and their disability pension without interruption. The amount of old-age pension to be received equals either the disability pension paid to them or the old-age pension due to them - whichever is higher.
- Upon switching from disability pension to old-age pension, there is no income test with respect to your old-age pension.
- Those receiving an old-age pension with increment of income supplement - their income from retirement pension and non-work income may have an impact on the increment for the spouse, under Disability Law.