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The Old Age Pension exists to ensure monthly income for Israel's elderly residents.Israeli residents who have reached the age required for Old Age Pension eligibility and who were insured by National Insurance in accordance with the required conditions are eligible to receive an Old Age Pension.How you make your savings last as long as you do is a key question when considering retirement.Old age insurance is one of the most important branches of the National Insurance Institute’s social security system and is designed to ensure that residents of Israel receive a regular monthly income in their old age. Criteria for determining this include: Israel is your permanent place of residence, where your family resides, where your children go to school, your primary place of work, or where you are studying.An insured person can check their entitlement to an old age pension by means of a simulator (in Hebrew).

If you are in need of finance, please check our guide to loans for pensioners and seniors Below are the eligibility requirements that anyone seeking the Age Pension needs to satisfy.

This increment is paid in cases in which there was no entitlement to an old age pension due to income from work (even if no claim was submitted) or if due to income from work, the insured person is only entitled to a small old age pension, and he or she waives receiving the small amount.

This portal contains information regarding the various benefits to which Old Age Pension recipients are eligible, as well as the additional benefits to which those receiving an Old Age Pension with income supplement are eligible.

Your State Pension age is the earliest age you can start receiving your State Pension.

It may be different to the age you can get a workplace or personal pension.

Those who have reached retirement age and still work may prefer to postpone receiving an Old Age Pension until the age of absolute eligibility in order to receive an additional benefit for postponing receiving the pension.

The Old Age Pension consists of a basic payment which is the same for all recipients, as well as supplements that vary depending on the number of years the recipient was covered by National Insurance, and if additional family members live with the recipient.

As with most government payments, it has eligibility requirements and a process which must be followed in order to start receiving payments.

Please note that au is not affiliated with the Department of Human Services or Centrelink.

Your qualifying age is based on your date of birth as shown in the table below. Generally, you can access your superannuation when you have reached age 65.

If you are under 65, you can access your superannuation savings if you have retired from the workforce and reached 'preservation age'.