Starting in 2017, all employers of foreign workers have to set aside monthly payments towards the pension and severance funds for foreign workers.
The law has become clear and uncompromising.
Hakeren provides a safe and straightforward solution, avoiding you being fined or indicted.
Hakeren protects the rights of foreign workers in Israel, and safeguards the interests of employers.
Setting aside severance and pension funds for the foreign worker is mandatory, irrelevant of the legality of his work.
The employer is obligated to set aside these funds as an incentive for the employee to work until leaving the country upon expiration of his or her visa. These amounts are then credited to the employee just prior to departure.
Hakeren is Israel’s only pension fund which specializes in Foreign workers; with this knowledge, they have developed a comprehensive solution tailored to the specifics of these employees.
Breach of the law is a criminal offense liable to imprisonment and fines of up 100,400 NIS for each offense. Failure to set aside
pension dues is sufficient reason for denial of employment permits granted to the employer.
From now on, there are no more excuses. The social conditions of foreign workers apply to the actual employer and to the
From now on, the law has placed personal criminal responsibility on Managers and Directors of companies who employ foreign
employees and fail to set aside pension and severance payments
Yes. According to wider ruling, the law requires you to reserve funds for every employee, regardless of whether s/he is local or foreign. Failure to do so can result in revoke of license by the relevant authority.
This is forbidden. Local pension plans are not appropriate for foreign workers and therefore they cannot manage these funds.
You can pay via check, bank transfer or direct debit.
Yes. At the end of the tax year Hakeren issues authorization of annual deposits for tax purposes, like all local pension funds.
Yes. Not only are companies obliged but also individual employers must set pension and severance reserves.
Asylum seekers with working visas or residency permits are “employees” as defined by labor law and therefore they are included in any relevant law.
Yes. Just because s/he is not legally in Israel from an immigration standpoint, does not mean that s/he is void of rights from a labor standpoint.