Page 6 - Ulpan-Or E-Tone 13.12.16 Advanced Level

E-Tone™: Ulpan-Or Weekly News Digest

Item #1 (Advanced Level)

Money for Every Child

The piggy bank you’ve saved for the children will soon undergo a
transformation. The monetary committee approved the “Savings for Every
Child” program today, which the Treasure Minister promoted. According
to the program, the state will deposit fifty NIS a month for every boy and
girl up to the age of eighteen, in addition to the child benefit. The parents
on their side will be able to add fifty NIS a month out of the child benefit.
When (they) reach the age of eighteen, the children will get another one
time grant of five hundred NIS, and if they continue the savings account
up to the age of twenty-one, another five hundred NIS grant will be added.
According to Ministry of Treasury’s estimates, for children whose parents
won’t deposit the additional sum, the average saving will reach about
fifteen thousand NIS on average at age eighteen. If the parents choose to
deposit the additional fifty NIS, the average save is expected to build up to
a total of about twenty-nine thousand NIS. These days the Social Security
(Agency) is sending out a letter to parents, and asking they decide where
the savings account would be deposited and managed, a decision the
results of which they’ll see in years.

Page 6 - Edition 12-13-16

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