The Finance Committee has improved the government's proposal to raise the retirement age for women.
The committee approved the law for a second and third reading in the Knesset.
This is a proposal under the Arrangements Law, according to which the age will be raised from 62 to 65 gradually, over 11 years, in order to reduce the harm to women who are already about to retire.
Raising the retirement age of women may have a negative effect on older women seeking to integrate into the labor market.
In order to provide a proper solution for these women, the law stipulates, along with additional measures, the increase in the amount of the work grant and the expansion of the income range that qualifies for the grant, for women aged 67-60.
The total cost of expanding the grant, as approved by the government, was NIS 130 million.
As part of the agreement with the Knesset members, the budget was doubled to NIS 260 million.
Conditions vary for women in the labor market, Photo: Oren Ben Hakon
At the same time, the maximum period of entitlement to unemployment benefits for women over the age of 60 will be extended by 125 days, from 175 days today - to 300 days, in order to allow women to advance their retirement period without being harmed financially.
The agreement with the Knesset members also stipulates that a woman who leaves the labor market before the age of 60, aged 57 and over, will also receive seven months of unemployment benefits, similar to any person who leaves the labor market, and another five months up to a ceiling of NIS 4,000 per month.
In addition, a grant will be given in addition to raising the retirement age, in the amount of up to NIS 4,000 for women who are not working and are not on their own initiative, between the ages of 62 and 62. The committee demands They will be able to exhaust it up to two years after meeting its conditions.
It should be noted that the Social Security old-age pension is currently paid to women from the age of 70. In the period between the ages of 69-62, when women retire, and up to the age of 70 - women are entitled to a grant if they earn up to NIS 6,000 a month.
According to the proposal approved by the Finance Committee, the allowance will be paid to women who earn up to NIS 7,750.
It was also agreed to provide assistance to women who receive an income guarantee of NIS 700 per month, for a period of up to 18 months, for women who will reach the age of 62 in the coming years.
