The average overall value of a pension paid to a former IDF officer is NIS 8.8 million compared with NIS 1.7 million for a state employees, the Finance Ministry reports.
The non-funded pensions of Israel Defense Forces (IDF) officers are 5.3 times higher than the average civil service non-funded pension, according to a report by Ministry of Finance Director of Salary and Employment Agreements Kobi Bar-Nathan. The report slammed the IDF for not meeting agreed targets in reducing pension payments to retired security force personnel.
The report found that while teachers have an average pension of NIS 7,900 per month and health system and government ministry employees receive an average NIS 8,800 per month, IDF non-commissioned officers (NCO) receive an average monthly pension of NIS 15,200 and IDF officers receive an average monthly pension of NIS 19,400.
But that is only part of the story because the average IDF veteran retires at 45 while the average state employee retires at 63. So while the average value of pensions paid out for state employees is NIS 1.7 million, IDF NCOs receive NIS 5.9 million and IDF officers receive NIS 8.8 million.
Published by Globes, Israel business news - en.globes.co.il - on January 12, 2022.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.
Aviv Kochavi Photo: Eli Dassa