Permanent Service in the Israel Defense Forces (Pensions) Law (Amendment No. 39) Bill

What does the bill do?

The bill changes the provisions on the bridging pension for IDF career personnel who were moved to a defined-contribution pension. The bridging pension (a monthly payment from the State Treasury) would be paid until reaching early retirement age (60), except for soldiers who retired by July 2023, officers who reached age 41 or non-commissioned officers who reached age 46, who would receive the pension until age 67. The bill also changes the formulas for the annual index-linked update of the pension, authorizes the Minister of Defense and the Minister of Finance (with the approval of a joint Knesset committee) to issue regulations setting out the details of calculation and payment, and cancels a previous requirement for insurance coverage against death and disability risks.