The National Insurance issued a follow-up report on the data related to the Savings Place for Every Child

Since the launch of the Savings Plan for Every Child, more than NIS 20.4 billion has been deposited into the savings plans

41% of parents did not choose an investment plan for their children, and 43% of parents did not make an additional deposit deducted from their child allowance – which could perpetuate inequality

The National Insurance Institute has issued a follow-up report on data from the Savings Plan for Every Child summarizing the program's data, parental involvement and the amount of deposits since the beginning of 2017 (the launch of the program), as well as the summary of data from 2023.

• Since the start of the Savings Plan for Every Child program, more than NIS 20.4 billion has been transferred to savings plan, NIS 3.32 billion of which was transferred in 2023.
• As may be recalled, in January 2017 was launched a program designed to guarantee all Israeli children a savings they could use upon reaching the age of 18 or 21 and which will help them at the beginning of their adult life. As part of the plan, the State makes monthly deposits, in addition to the child allowance – of NIS 55 into the savings plan that the parents have opened for their children. The parents, for their part, are entitled to deposit an additional amount of NIS 55 take from the child allowance to which they are entitled, thus doubling the monthly deposit amount.
• At the end of 2023, more than 3.7 million savings were reported, with 3.5 million active savings plans and 116,793 of them are plans with discontinued deposits. During 2023 – 115,893 savings plans were fully redeemed and 1,224 partially redeemed, amounting to approximately NIS 679 million.