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National Insurance Benefits in Israel to Exceed 75 Million Pounds

The National Insurance Fund will spend about 75,000,000 pounds ($41, 667, 000) this year in benefits to insured persons, mostly in old age and survivors’ benefits, it reported today.

The scheme gives old age, survivor, maternity, accident, and employment insurance coverage and family allowances to 640, 000 persons.

The fund administers the family allowance plan under which the State pays special allowances to families having four or more children. One-eighth of the beneficiaries of the Fund receive these family allowances. Eighty percent of the family allowance recipients are immigrants from Africa and Asia, and ten percent, non-Jews although non-Jews constitute only seven percent of those employed. The fund is currently paying old age pensions to 16, 000 men and women.