הצעת חוק הפיקוח על שירותים פיננסיים (קופות גמל) (תיקון מס' 16), התשע"ו-2016Bill on Supervision of Financial Services (Pension Funds) (Amendment No. 16), 2016 · automatic translation · suggest a correction

What was put to the vote

«לקבל את הצעת החוק בקריאה שלישית»

Third reading: The final vote. A bill that passes its third reading becomes law. Glossary →

Bill: חוק הפיקוח על שירותים פיננסיים (קופות גמל) (תיקון מס' 16), התשע"ו-2016Law on Supervision of Financial Services (Pension Funds) (Amendment No. 16), 2016auto

About the law and the debate

Official summary of the law (Knesset)

The Supervision of Financial Services (Provident Funds) Law (Amendment No. 16), 2016 (hereinafter – the Amendment), was passed in second and third reading on 13 June 2016. Under the Amendment, if a condition was set between an employee and employer whereby the deposit rate, excluding the severance pay component, to a provident fund stands at a certain percentage of the employee's salary and also includes payment by the employer for the purchase of loss-of-working-capacity insurance, while the deposit rate to a different type of provident fund stands at a lower percentage – such a condition shall not be deemed a prohibited condition under Section 20(a) of the Supervision of Financial Services (Provident Funds) Law, 2005 (hereinafter – the Law), provided that the employee shall be entitled to a minimum deposit rate of at least 6.25% from 1 July 2016 until 31 December 2016, and with respect to the period from 1 January 2017 onward – a deposit rate of not less than 6.5%. The Amendment's effective date was set as 5 February 2016 – the effective date of Amendment No. 12 to the Law, which established a prohibition on an employer conditioning payments to a provident fund on behalf of its employee and the deposit rate, insofar as such a condition is made.

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All arguments and speakers are on the bill page →

By party on the day of the vote

• for
• abstained
• against