[etni] pension
- From: Renee Wahl <renew@xxxxxxxxxxxxxxxx>
- To: etni@xxxxxxxxxxxxx
- Date: Tue, 07 Dec 2010 08:42:04 +0200
Hi All,
Regarding the pension thing: I heard a program on the radio about this subject
and as I understood it, people who belong to the old kupat gemel funds and who
reached the official retirement age (by 2005 or 07 - I don't remember exactly
when) have a certain grace period (sometime towards March 2011) in which they
can withdraw their kupat gemel funds without penalty or tax. The discussion
then went on as to whether this was worthwhile or not and the advisor mentioned
that there was no really safe place to invest this money where it would earn
anything like the 4.5% that it would be earning in the pension fund if you left
it there. However, he advised that each person consult a financial advisor in
order to determine the financial plan suitable to their personal needs. And I
want to add that it shouldn't be an advisor in your bank.
I fully agree with Rachelli's tirade about those who made the decision
regarding our hard earned money. My objection is that sometimes we need a
large sum of money and have been counting on being able to withdraw from our
kupat gemel. Besides, and probably more important is that if G-d forbid we
don't make it to 120, our pension is defaulted to the fund and that, to me, is
pure and simple theft!
Renee Wahl
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