This booklet reviews the implications of the 2003 reform on the rights of the insured in pension funds and explores the consequences of selling the new pension funds to insurance companies. The authors also examine the nature of the collective agreement that provides pensions for all employees. Finally, the writers try looking towards the future to see how to prepare for the next reform of the pension industry, as past experience shows that once every 10–15 years a significant reform occurs in this industry.

Published as part of a collection of essays. The Economics and Society Program at the Van Leer Jerusalem Institute