Subscribe to Print Edition | Mon., December 31, 2007 Tevet 22, 5768 | | Israel Time: 02:02 (EST+7) web haaretz.com   Back to Homepage Rosner's Domain Diplomacy Defense Jewish World Opinion National Print Edition Advertising Books Arts & Leisure Business Real Estate Easy Start Travel Week's End Anglo File Magazine

del.icio.us Digg It!  new Pension pact promises some security for 1 million workers By Ruth Sinai An agreement to be signed today will require all employers to deposit money into pension funds for their employees. The mandatory pension pact will provide retirement savings for one million employees. Employers will pay an amount equal to 10 percent of their salary costs into a pension fund, with every worker paying 5 percent into the fund. "This is one of the most important social achievements of recent years," Histadrut labor federation chairman Ofer Eini said yesterday. He signed a similar agreement in July with Chairman of the Bureau for Coordination of Economic Organizations, Shraga Brosh. Today's agreement, which will be signed by Industry, Trade and Employment Minister Eli Yishai, will extend the pension coverage to all employees who are currently without retirement insurance, including those who are not union members. Advertisement According to the Central Bureau of Statistics, 47 percent of the country's workers have no pension plan. Only 28 percent of Arabs and 38 percent of immigrants have a retirement fund. According to Dr. Israel Doron of the University of Haifa, "The lack of a pension means that people who worked all their lives are forced to get by with an income that puts them below the poverty line." Bookmark to del.icio.us Au revoir Assad Sarkozy says he'll cut ties with Syria over the Lebanon presidential crisis. Women march on Women in Black marks its 20th year, but the occupation continues.

Today Online PM spokesman says Israel taking bin Laden threat seriously Responses: 349 Pinpointed IAF attacks in Gaza more precise, hurt fewer civilians Responses: 161 Harel and Issacharoff: Nipping new Jewish terror group in the bud Responses: 114 Women in Black marks 20th year, but occupation continues Responses: 68 France to cut ties to Syria over Lebanese presidential crisis Responses: 65 More Headlines 00:40 Palestinians: IDF kills Gazan en route from hajj 23:09 PM spokesman says Israel taking bin Laden threat seriously 20:42 Iranian envoy offers Egypt cooperation on nuclear program 21:20 EU blasts Palestinian bid to pass banned chemical off as food aid 01:59 Arab pupils lag behind Jewish peers in reading comprehension 01:45 Surviving hiker recounts Friday`s shooting attack in Hebron Hills 18:30 Comptroller aides: Bank Leumi case against Olmert still open 23:28 France to cut Syria ties over Lebanon presidential crisis 01:49 Knesset panel approves watered-down benefits package for reservists Previous Editions Select Day 30 dec 28 dec 27 dec 26 dec 25 dec 24 dec 23 dec 21 dec 20 dec 19 dec 18 dec 17 dec

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