Mad Hon · Pension savings

Pull your Har HaKesef report

Pull your Har HaKesef report. A step-by-step Mad Hon guide for your Pension savings score, written for olim.

1. Understand why this catches olim specifically.
When you start a job here without naming a fund, the employer enrols you into a default arrangement and files the paperwork. Nothing about that arrives in English, and often nothing about it arrives at all. Change employer twice in your first years and you can be paying management fees on three accounts, two of which you have never seen. The report is the only place that shows all of them at once.
2. Sort the government login first, because that is the real obstacle.
Access runs through the national digital identity service, and you identify yourself with your teudat zehut number plus a one-time code or an existing government account. If you have never registered for government digital services, that registration takes longer than reading the report does. Doing it once is worth it regardless: the same login opens most of the state services you will need.
3. Read the report, then go to the clearing house for the numbers.
Har HaKesef answers one question well: which products exist in your name, and who manages each one. It does not give you the balance or the fee. Those come from the pension clearing house, which returns the accumulated amount, the monthly deposits, the management fees and the insurance cover for every product. The fee is the one to look at twice, because it is charged in two places: a percentage of the balance every year, and a percentage of each deposit as it goes in. A low headline on one and a high figure on the other is a common and expensive combination. Both interfaces are in Hebrew, so it is worth going through them with the labels in front of you rather than translating as you scroll.
4. Mark which accounts are still receiving deposits.
An active account gets a monthly deposit. A dormant one holds a balance and receives nothing, usually because it belongs to an employer you left. Dormant accounts do not disappear and they do not stop charging: the annual fee on the balance keeps running against savings that are no longer being added to. Those are the first candidates for merging.
5. Check the cover attached to an old account before you move it.
A comprehensive pension fund carries disability and survivors cover alongside the balance, and that cover is priced at your age when it starts. Moving an old account to a new fund reprices it at your age now, which can be more expensive, and anything in your medical history can matter. Ask the receiving fund what the cover will cost before you file anything. This is the step that costs people money when it is skipped.
6. Save the file, and do this again in a year.
Fees change, tracks change, and a new job adds a new account. Keep the report as a dated PDF so next year has something to compare against, and put a reminder in for twelve months.

Pull your Har HaKesef report. A step-by-step Mad Hon guide for your Pension savings score, written for olim.

1. Understand why this catches olim specifically.

When you start a job here without naming a fund, the employer enrols you into a default arrangement and files the paperwork. Nothing about that arrives in English, and often nothing about it arrives at all. Change employer twice in your first years and you can be paying management fees on three accounts, two of which you have never seen. The report is the only place that shows all of them at once.

2. Sort the government login first, because that is the real obstacle.

Access runs through the national digital identity service, and you identify yourself with your teudat zehut number plus a one-time code or an existing government account. If you have never registered for government digital services, that registration takes longer than reading the report does. Doing it once is worth it regardless: the same login opens most of the state services you will need.

3. Read the report, then go to the clearing house for the numbers.

Har HaKesef answers one question well: which products exist in your name, and who manages each one. It does not give you the balance or the fee. Those come from the pension clearing house, which returns the accumulated amount, the monthly deposits, the management fees and the insurance cover for every product. The fee is the one to look at twice, because it is charged in two places: a percentage of the balance every year, and a percentage of each deposit as it goes in. A low headline on one and a high figure on the other is a common and expensive combination. Both interfaces are in Hebrew, so it is worth going through them with the labels in front of you rather than translating as you scroll.

4. Mark which accounts are still receiving deposits.

An active account gets a monthly deposit. A dormant one holds a balance and receives nothing, usually because it belongs to an employer you left. Dormant accounts do not disappear and they do not stop charging: the annual fee on the balance keeps running against savings that are no longer being added to. Those are the first candidates for merging.

5. Check the cover attached to an old account before you move it.

A comprehensive pension fund carries disability and survivors cover alongside the balance, and that cover is priced at your age when it starts. Moving an old account to a new fund reprices it at your age now, which can be more expensive, and anything in your medical history can matter. Ask the receiving fund what the cover will cost before you file anything. This is the step that costs people money when it is skipped.

6. Save the file, and do this again in a year.

Fees change, tracks change, and a new job adds a new account. Keep the report as a dated PDF so next year has something to compare against, and put a reminder in for twelve months.