Investment Provident Fund

An investment provident fund is a relatively new savings tool launched at the end of 2016, designed to encourage the public to save more money for the future. Whether as savings for children, general family savings or savings for retirement. Anyone can deposit into the fund up to ILS 83,641 (as of 2026) per calendar year, and enjoy a unique benefit if the savings are withdrawn after age 60.

Yes. An investment provident fund is a liquid savings tool. The savings funds will be transferred within four business days from the date of the withdrawal request to the managing company.

We at Meitav allow a one-time deposit or a fixed monthly deposit, and it is also possible to combine them, meaning to deposit a one-time deposit alongside a fixed monthly deposit.

The track is invested in market indices at the discretion of our investment experts. As of now, this track is focused overseas and passively tracks international stock and bond indices, with broad diversification. In the stock indices category, these are broad indices such as SP500 and NASDAQ 100, while in the bond sector, these are indices like iBoxx Investment Grade and iBoxx Liquid High Yield.

You can join easily and digitally from any device at any time and open an investment provident fund for yourself. To join, click here >>

Yes. There is a limit – ILS 83,641 (as of 2026) per calendar year for each saver. For example, a couple with two children can open four accounts (in the name of each family member) and deposit up to ILS 83,641 in each account, meaning a total of ILS 334,564 per calendar year.

Absolutely. At Meitav, you can contact our customer service by email, chat or phone and request to update the method of depositing funds. This means that it is possible to make an additional one-time deposit, stop a fixed monthly deposit, and perform other actions.

Indeed, yes. You have the option to choose, already upon joining the investment provident fund, the investment track and the risk level suitable for your needs and goals.

Savings through an investment provident fund is suitable for anyone who wishes to save for the future. An investment provident fund is suitable for any person of any age who wishes to increase their savings for retirement or increase their current savings. This savings can also serve as a tool for saving for children, as dedicated savings accounts can be opened for them in their names.

Those who choose to withdraw their money as an annuity after age 60 will enjoy a full exemption from tax payment. Those who choose to withdraw their money as a lump sum will be required to pay capital gains tax, similar to savings through a savings insurance policy, mutual funds and other savings tools.

Yes. Meitav offers a variety of investment tracks, and from them you can choose the investment track that best matches your needs. During the joining process for an investment provident fund through the digital process, you can select the desired investment track from a variety of tracks with different risk levels.

In a way that may perhaps surprise, it is a fairly simple process from your perspective as clients. If you’re interested in transferring between investment provident funds, all you need to do is contact us at Meitav, fill out joining and fund transfer forms – and that’s it. We will handle the transfer from there onward with the previous management company and ensure the transfer of the funds.

In the past, the provident fund was a significant and common savings channel, where many people saved and could withdraw their money as a lump sum (meaning in one withdrawal) after 15 years of savings without tax payment. Starting in 2008, the legislative arrangement changed. Funds deposited after 2008 were designated for annuity savings only upon retirement. The new savings tool, the investment provident fund, restores liquidity and allows withdrawing the savings funds at any time (meaning full liquidity). In addition, those who choose to withdraw their money after age 60 as an annuity will benefit from increased retirement savings and a tax exemption.

In the name of any person (in my name, the children’s name, the grandchildren’s name, or the spouse’s name). However, it is important to understand that opening an investment provident fund in another person’s name is like giving an irrevocable gift to that person. In such a case, the management and eventual release of the funds will be carried out by that person only (except in the case of a minor).

We at Meitav allow our clients to track their savings funds easily through the Meitav app and in the personal zone. You can log into the website at any time and check the savings status, the deposits made and the returns achieved.