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Provident Funds

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Provident Funds

For those wishing to save for the medium to long-term, investment house Altshuler Shaham’s provident funds are an excellent solution that enables them to benefit from over 25 years of professional investment management experience.

What is a provident fund? A provident fund is a long-term savings instrument that allows you to save money for retirement through monthly or annual contributions and enjoy tax benefits. The money accrued in the fund is managed by the investment house’s professional, seasoned investment managers, allowing your money to collect returns over the years and substantially increase your savings. The funds can be invested in a variety of investment tracks, with varying  risk levels, depending on your inclinations and needs.

 

There are several types of provident funds:

  • Provident funds for benefits and severance pay - in which your employer can deposit savings and severance pay contributions on your behalf.
  • Central provident funds for severance pay - in which employers deposit contributions in respect of severance pay in the event of termination or retirement (these funds no longer receive deposits).
  • Investment provident fund - a provident fund that allows customers to save money for the short, medium and long term, and from which a lump sum may be withdrawn at any time.

 

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Legal Note:

* The Company may subsequently alter the nature of the investment policy and/or the composition of assets, as shall be decided from time to time, subject to the funds’ articles of association and to the legislative provisions.  * The foregoing should not be construed as a commitment by the Company to achieve excess yields, and information on yields achieved in the past is not indicative of future yields.  * The above is subject to the provisions of the law and to the provisions of the relevant articles of association. * The foregoing should not be construed as an exhaustive review of the nature of the investment policy of the various tracks. Detailed information regarding the investment tracks and their investment policies can be found on each fund’s web page.