Your pension fund's statement arrives by mail or email, and most of us glance at the bottom-line balance and close it. Yet it is one of the most important documents in your financial life. It shows what actually happened to the money set aside in your name. This guide goes through the statement field by field and explains what to check in each. Layout and detail vary between providers, but the basic fields are similar.

Field by field

Fields and names may differ slightly between providers.
FieldWhat it showsWhat to check
Personal details and employerWho you are, and which employer depositsThat your current employer appears and no details are wrong
Balance / accumulationWhat has accumulated in the fund, often split into componentsWhere the money sits: employee contributions, employer contributions and severance
Deposits in the periodWhat was deposited and for which salary monthA match with your payslip, and gaps between months
Management feesThe rate on deposits and on balanceBoth rates, and whether they were updated
Insurance coverDeath, disability or loss of earning capacity, and survivorsThe scope, its cost, and overlap with other insurance
Investment trackThe track your money is invested in, and its returnThat the track fits your age and horizon, and the net return
Pension projectionAn estimate of your pension at retirementThe assumptions behind it (return, salary, age)
BeneficiariesWho inherits in case of death, where it must be setThat the details are current and fit your family situation

Insurance, track and beneficiaries: the three forgotten fields

  • Insurance cover: a pension fund usually includes cover for death (survivors' pension) and loss of earning capacity. The cost comes out of the deposit. If you also have private insurance, check for overlap.
  • Investment track: are you in a default track or one you chose? A track that suits age 30 doesn't necessarily suit age 58. Also check what happens as you approach retirement.
  • Beneficiaries: in some products you decide who receives the money on death. After a wedding, divorce or birth, make sure the details are current.

The journey of a deposit: from payslip to statement

  1. End of month

    Salary is paid

    Your payslip shows the employee deduction and the employer contribution.

  2. The following month

    The employer transfers to the fund

    The law sets a deadline for the transfer, usually mid-way through the following month. Check the exact date with the authority.

  3. A few days later

    The fund allocates the deposit

    The money is recorded in your account and begins to take part in the return.

  4. In the next statement

    The deposit appears

    The quarterly statement lists deposits by the month they were paid for.

  5. You

    Compare with your payslip

    A month missing from the statement is a reason to ask your employer or the fund.

What to do when the statement arrives

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Frequently asked questions

Providers send quarterly and annual statements, and you can also see up-to-date information on the provider's site or app. Ask the provider for the exact details.

Ask your employer first, and if there's no answer, contact the fund. Because of the lag between payslip and statement, sometimes a deposit simply hasn't been recorded yet. Note what you checked and when.

There is a government service for locating forgotten money and savings, where you can see what is registered in your name. Search gov.il for the Capital Market Authority's service.

It's a personal decision that depends on age, horizon and risk tolerance, so there's no single answer. You can consult a licensed adviser or agent. This article is general information, not advice.

Not necessarily. It can matter a lot, especially for a family with children. The question is whether the scope fits and isn't duplicated, and to know that you need to check against your other policies.