Amendment 190

עמוד הבית > Amendment 190

In 2020, Amendment 190 to the Israeli Income Tax Ordinance was approved in order to encourage savings through provident funds of citizens and especially pensioners, with the understanding that an old-age pension is one of the important anchors after retirement age. This amendment allows you to deposit private savings into provident funds, enjoy during the savings period all the benefits of a regular provident fund, and withdraw the money after age 60 as an annuity or as a lump sum with a reduced tax payment of 15% on nominal profit.

 

  • Attractive Management Fees and Tax Benefits

    Management fees without additional costs such as buying and selling fees, shift fees and more. Receiving a tax exemption when withdrawing funds as a pension at retirement age.

  • Full Liquidity After Retirement Age

    Possibility of capital withdrawal as a lump sum from the age of 60 and over and provided that the saver at retirement age and at the fund will remain a minimum balance in respect of a deposit in accordance with the regulations.

  • Intergenerational Transfer

    Provident fund savings yield tax benefits even when it comes to intergenerational transfer to beneficiaries – an important aspect for an older population.

  • Professional and Dynamic Management

    Switching between investment routes at no cost and taking advantage of opportunities – Provident fund managers are allowed to invest in a wide range of investments, such as non-marketable assets, securities in Israel and abroad, and more.
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