Treasury's Tax Plan Will Curb Pension Saving, Say Industry Experts

The budget draft calls for lowering the cap at which savers are eligible for tax benefits to NIS 15,000, down from the current NIS 35,000.

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Pension saving will contract sharply due to the Finance Ministry’s plan to drastically scale back tax benefits for savers with salaries of more than NIS 15,000 a month, say senior pension advisers.