חוק שירות המדינה (גמלאות) (תיקון מס' 58), התשע"ו-2016State Service (Pensions) Law (Amendment No. 58), 2016 · automatic translation · suggest a correction

Official summary of the law (Knesset)

The Civil Service Law (Pensions) (Amendment No. 58), 2016 (hereinafter - the Amendment), was passed in second and third reading on 30 March 2016. Under the old update method, pensions of Israel Security Agency (Shin Bet) and Mossad employees were updated according to the salary of an active career soldier at a rank corresponding to the employee's retirement rank. The Amendment aligned the pension update method with the method in effect since 2009, under which the update is an index-linked update - and always positive. That is, in a year in which the index is negative, no update is made to pensions. The Amendment established that Shin Bet and Mossad pensioners will receive the update to the determining salary and the additional update to it, an erosion supplement due to the 2008 index, a supplement due to wage agreements, and a supplement due to the index for the years 2009 to 2013, for pension payments for the months of January-May 2016. A new arrangement was also established for what is called a "public fund," under which a Shin Bet or Mossad employee entitled to a retirement pension who returns to service at the Shin Bet or Mossad and whose total income exceeds the determining salary - shall be paid a pension at a rate of 2/3 of his regular pension or at the rate of the regular pension less 1/3 of the amount by which the total income exceeds the determining salary - whichever is higher. To the extent the total income does not exceed the determining salary, the pensioner's pension shall not be reduced. The Amendment also included employees of the Office of the State Comptroller in the State Comptroller's ranking, under the arrangement applicable to all state employees since 2009, and the pensions of Comptroller's Office pensioners shall be updated with respect to pension payments for the period January 2011 to May 2016. The Law's commencement was set for 1 May 2016.

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