National Insurance Law Bill (Amendment - Linking Old-Age Pension to Minimum Wage), 5783-2022

This bill seeks to change the way the old-age pension is calculated. Currently, the pension is calculated based on 17.7% of the basic amount. The proposal seeks to link the pension to the minimum wage. This means that if the minimum wage increases, the old-age pension will also increase accordingly. In addition, it is proposed to change the word "the difference" instead of "the basic amount" in section 247 of the National Insurance Law. The proposal is intended to ensure that senior citizens can afford their basic needs, such as medications and medical treatments, and support themselves with dignity. It is based on the understanding that the legislature has already recognized the importance of the minimum wage as a basis for a dignified livelihood, even for those who do not work due to their age. Similar proposals have been submitted in the past by various MKs.

Source: הצעת חוק לדיון מוקדם